Banker: World Financial Crisis Does Not Change China's Economic Fundamentals

BEIJING, Oct. 28-- China's economy is robust enough and has enough capacity to cope with the world financial crisis, said Hu Xiaolian, deputy governor of the People's Bank of China, or the central bank.

    Hu made the remarks in a lecture held for the 11th National People's Congress Standing Committee on Tuesday. NPC Standing Committee Chairman Wu Bangguo and the committee's vice-chairmen attended the lecture.

    Hu said despite the negative international environment and severe domestic natural disasters, the country's fundamental economic conditions remain unchanged.

    He offered advice and suggestions on coping with the current situation.

    This lecture aimed to give the senior legislators an insight into the world financial crisis.

    "We should have sound estimates of the complex and arduous world environment and meanwhile understand positive factors and conditions that we have, "said Hu, expressing belief that China will successfully tide over the financial crisis if the country has firm confidence and adopts effective measures.

    He cautioned that although governments of many countries have implemented many measures to promote economy, the market still faces a lot of uncertainty in the future.

    (Edited by CBI China)