Zhou Xiaochuan
Zhou Xiaochuan
Zhou Xiaochuanis a Chinese economist, banker, reformist and bureaucrat. As governor of the People's Bank of China since December 2002, he has been in charge of the monetary policy of the People's Republic of China. He was reappointed to the same position in March 2013, making him the longest-serving central bank chief since the establishment of the People's Republic of China...
assets currency fund global major mechanism priority reserve single
Global trade, settlements and reserve assets are heavily reliant on a single currency. The fund should give priority to establishing a surveillance and check-balance mechanism of the major reserve currency countries.
capital economic rather sudden system
At the same time, international capital is rather mobile, and China's economic system is still not able to withstand sudden and disorderly adjustments.
basket constitute
They will constitute the basket of the currencies and be weighted accordingly,
chinese companies company corporate economy global learn looking market ownership planned public tried
In the 1980s, Chinese companies tried to get out of the traditional, centrally planned economy and become market players. In the 1990s, many Chinese companies tried to restructure their company structure, to have ownership diversification, to go public domestically or internationally, and then to learn to set up new corporate governance. And after that, I think Chinese companies are looking more and more to the global competition.
instead risks various
instead of transferring various risks to the government, as they did under the fixed-exchange regime.
advantages create developed enjoying export goods imported improve industrial job quickly
In particular, the developed countries, while enjoying low-cost imported goods and services, have to restructure their industrial sectors quickly to create job opportunities and export advantages to improve their competitiveness and dampen protectionism.
I don't want to say which ones I think are important or feasible.
amount assets concerned dollar exchange foreign people reserves
The foreign exchange reserves are still growing. Some people are concerned that the amount of U.S. dollar assets in the reserves will fall. But that's not the case.
amount basket biggest depend euro foreign japan korea main naturally partners south trade trading
The currencies in the basket depend on the amount of foreign trade we conduct. The U.S., euro zone, Japan and South Korea are our biggest trading partners now. Hence, their currencies are naturally the main ones in the basket.
conditions economy exist factors float free global unstable
The conditions for a free float do not exist at present. The global economy is not balanced, there are still many unstable factors and there will be a lot of adjustments in future,
cannot change conditions exchange interfere kinds noises normal rate reform various
These kinds of noises cannot change the various fundamental conditions and sequencing of China's exchange rate reform. They only interfere with the normal reform process.
banks china commercial four reform
The listing of the four big state-owned commercial banks is up to them. The reform on the Agriculture Bank of China is also underway and will not be rushed.