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...
attention bow change countries global issue pay pressure
We will not bow to pressure from other countries to change our policies, but we will still pay attention to every issue in the global economy.
domestic exchange issues loses pressure rate three trade
Otherwise, in two or three years' time, once domestic consumption loses steam, there will then be a lot of pressure around issues such as the exchange rate and trade friction.
bonds buy china current elections employment exchange foreign good issues pressures reserves rest state subsidize treasury using
We know the U.S. has pressures -- employment issues and elections and the credibility of the government. For China, we could also say that the current state is not only good for China but also for the rest of the world and also good for the U.S. because we are using our foreign exchange reserves to buy U.S. Treasury bonds and subsidize U.S. consumers.
allow bring demand effect exchange gradually greater market rate supply
We think (we) can allow market supply and demand to gradually bring about a greater effect on the exchange rate float.
cannot financial ignore risk
We cannot ignore the risk of disorderly adjustments in financial markets.
people worry
We don't worry too much what other people say.
domestic
We need to look at domestic and international needs.
foreign interest rates
We will have decontrol of interest rates and foreign exchange.
economic further reform respect timing
We should go further to reform but respect economic stability. Timing is important.
balance financial market opening sector security
We should find a balance between opening the market and (national) security issues; not every financial sector is sensitive.
accept clearly concept currency defined economic
We don't accept the concept of currency manipulation; it is not a clearly defined economic concept.
float forces market time
but the important thing is that it has started to float and over time market forces will play a more and more important role.
chinese companies global looking
Chinese companies are now looking more and more at global competition.
euro japanese korean major partners trading united won
China's major trading partners are the United States, the euro land, Japan, Korea, etc., and naturally, U.S. dollar, euro, Japanese yen and Korean won become major currencies of the basket.