China's macro-economic measures have begun to pay off; the national economy is developing in right direction; the financial system is sound and safe, according to the 3rd quarter session of the People's Bank of China (PBOC) monetary policy commission held recently.
Flexible and prudent macroeconomic policies should be adopted in accordance with the changing situation at home and abroad, and the orientation, strength, rhythm of macroeconomic control should be grasped timely and appropriately, so as to create a sound currency environment for the stable and rapid economic development.
The meeting analyzed situation of current economic and financial system at home and abroad, and focused on the potential impact of international financial turmoil on China's economic and financial development. It said the financial turbulence caused by U.S. credit crisis has impacted the financial organs and economic entities, making the global economic prospect gloomy. China must deal with the crisis properly.
Meanwhile China should draw experiences and lessons from the financial crisis and improve the banking system and its supervision systems to maintain the stability of financial system and financial markets.
By People's Daily Online
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