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Fri,Apr 11,2014
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China's financial reform no easy job (3)

By Zhang Zhongkai (Xinhua)    19:57, April 11, 2014
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CENTRAL BANK'S HAND

With global liquidity changes speeding up following U.S. and Europe quantitative easing, pressure for China's central bank to play a positive role in the global market is mounting.

Meanwhile, compared with the central banks of other developed countries, the People's Bank of China (PBoC) has to juggle different priorities and work collaboratively with other ministries to push reform in the country.

"China's central bank has always taken unconventional monetary policies in the past, and that is necessary to facilitate domestic reform on all fronts in the transition period," said Zhou Xiaochuan, governor of PBoC.

Financial stability is the central banks' top priority, Zhou added.

Jiri Smejc, CEO of Home Credit Group Corp, called for proper supervision of commercial financial institutions instead of an over-tight grip, citing the challenges facing burgeoning Internet finance.

"We will do our homework as regulators, and give more respect for the market's choices," Zhou said.

【1】 【2】 【3】

(Editor:GaoYinan、Yao Chun)

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