Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Zhou Xiaochuan calls for financial reforms
Adjust font size:

Chinese Central Bank Governor Zhou Xiaochuan on Saturday urged for international financial reforms in the face of the global economic downturn.

Zhou made the remarks in the Colombian city of Medellin where he is attending a five-day Inter-American Development Bank (IDB) meeting.

The Chinese official told reporters that he expected financial reforms and regulatory measures for international financial organizations, including the International Monetary Fund and the World Bank, would be discussed at the upcoming G20 summit of leading industrialized and developing nations in London.

"Up to now we have participated in some working groups which focus on coordinating effort to overcome the negative impact of the financial crisis," Zhou said.

"The second is maybe financial sector reform, including regulatory reform, and I think we also expect there may be some reform agenda for international financial institutions, including the Fund, the Bank and other development banks." he said.

The Chinese official also called for tougher regulation of international financial institutions.

Talking about China's trade cooperation with Latin America, Zhou said in 2008, China's direct investment in Latin America totaled 24 billion U.S. dollars while its trade with the region reached a record of more than 140 billion dollars, an increase of 40 percent from 101 billion in 2007.

At least 48 members with their delegations attended the 50th IDB general assembly in Medellin. The meeting, which began on Friday, was on the international economic crisis and its impact in Latin America and the Caribbean.

On Oct.15, 2008, the IDB approved China to become the 48th member country of the Washington D.C.-based bank.

China is an important investment and trade partner of Latin America and its accession carries even greater significance for poverty alleviation and development in Latin America and the Caribbean at the conjuncture of the current financial crisis, said IDB President Luis Alberto Moreno on Jan. 12 when China officially joined the group.

(Xinhua News Agency March 29, 2009)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Zhou Xiaochuan: Reform the IMF
- Deflation a remote possibility: Central Bank
- Vice-premier: China will aid IMF bond scheme
- China deserves greater role in IMF's reform
- Major IMF reforms seen at G20 summit
- PBOC: China 'will actively consider' buying IMF bonds

Mar.20, Shanghai Lipper Funds Awards
Mar.21-22, Beijing Anti-monopoly Law Symposium
Mar.27, Beijing The 4th Annual China Fund Summit
Apr.11-12, Beijing The Fifth (2008) 'Gold Prize of Round table'of Chinese Boards of Listed Company
Apr.20-23, Beijing Green Transformation: Forcast New Business Culture

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?