Source: CCTV.com
04-20-2009 09:56
Special Report: Global Financial CrisisSpecial Report: Boao Forum for Asia 2009
The central bank governor says China's economy has seen recovery signs, but is still struggling with the financial crisis. Speaking at the Boao Forum, Zhou Xiaochuan also called for regional financial institutions to play bigger roles.
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| The central bank governor says China's economy has seen recovery signs, but is still struggling with the financial crisis. |
Zhou Xiaochuan advised emerging countries to strengthen their financial systems, and called for regional banks to play a bigger role in the global economy.
Zhou Xiaochuan, the central bank governor, says, "regional development banks know more about the local information. They also know more about each other and can easily reach agreements and act together. At the time of carrying out a reform of international financial institutions including the World Bank and the IMF,we should pay attention to letting regional banks play a greater role."
Zhou Xiaochuan pointed out some financial institutions are pulling out their money. This could lead to a shortage of trade financing, and he called on them to correct problems in their systems.
Zhou Xiaochuan says, "for the middle and long term, the reform of the international financial institutions should set up a better global financial system. It should also learn lessons from the current crisis and prevent it from happening again in the future."
Zhou Xiaochuan also said China strongly supports the Asian Development Bank as well as regional financial institutions in other areas such as the African Development Bank and Inter-American Bank.
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Editor:Qin Yongjing
