www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

PBOC: China can weather crisis

(chinadaily.com.cn)
Updated: 2008-10-27 18:43

The Head of China's Central Bank says the country should not underestimate the scale and depth of current global financial turmoil. But Zhou Xiaochuan says the financial system in China is strong enough to withstand blows from external forces.

Zhou Xiaochuan says China mustn't underestimate the impact of the global financial crisis on its economy. But he believes the country can weather fallout from the crisis.

Zhou Xiaochuan said, "Currently our overall economic situation is good. The competitiveness of our financial institutions has strengthened, with big improvements to profitability and the management of risk. We have relatively abundant market liquidity. In short, our financial system remains very solid, and should be able to withstand external impact."

Zhou Xiaochuan believes economic growth rate will continue to trend upwards, citing the advantages of a vast domestic market, abundant liquidity and a good source of labor.

But he concedes that a substantial global economic slowdown will have some effect on Chinese export.

Zhou Xiaochuan said, "Currently our economy is highly dependent on the international market. A global downturn and a weakening external demand will ultimately have a negative impact on our economic growth."

The Central Bank Governor also expressed concerns about stock markets, fixed-asset investment and prices of commodities. He says uncertainty has increased in terms of inflation and stabilizing prices has become more complex.

China Effort

• Auditor vows to closely monitor stimulus projects
• Diplomat urges mutual trust to better China-EU ties
• Flexibility signaled on trade talks
• China boosts domestic demand, spurs growth to fight crisis
• China may buy up steel stocks, aid mills
• more

Global Action

• UN urges G20 to back $1t aid for poor nations
• EU leaders agree to lend 75 billion euros to IMF
• Obama calls for global action amid crisis
• IMF says clean up banks to tackle dire world crisis
• G20 Finance Ministers and Central Bank Governors Meeting Communiqué
• more

Related Coverage

• Hu at G20 and APEC
• China Statistics
• 2009 NPC and CPPCC
• Chinese Economy
• World Financial Crisis
• more