Zhou Xiaochuan: PBOC Focuses on Currency Stability And Financial Stability

BEIJING Oct. 7 -- Governor of the People's Bank of China(PBOC), Zhou Xiaochuan said, during the in-depth study and practice of scientific concept of development, it is necessary  for central bank to focus on following aspects during the implementation of financial macro control and the process of monetary policy development: how to effectively maintain currency stability, how to promote employment, promotion and support consumption growth more effectively; to better safeguard the financial stability in order to create a good financial environment for economic and social development. 
    At the in-depth study of the scientific concept of development for senior officials in PBOC, Zhou Xiaochuan said to thoroughtly study and practice the scientific concept of development, the central bank should focus on two aspects. First, how to practice the scientific concept of development in monetary policy, financial markets, financial stability, financial services. Second, how to help the entire financial system better serve healthy economic development, how to create a good environment, and how to promote national economy running in accordance with the scientific concept of development.
    Zhou pointed out that during the in-depth study and practice of the scientific concept of development, it is necessary to closely relate with reality, and study important issues in six aspects. Firstly, to support the development of science and technology, to improve the capability of independent innovation, stick to the road of independent innovation with Chinese characteristics, to help build an innovation-oriented country. Secondly, financial industry should serve national economy, and make efforts to improve actions which may optimize the environment much more market-oriented. Thirdly, to overcome bottlenecks during development. Through the financial mechanism to promote the settlement of land, energy, water resources. Fourthly, solve problem of service sector development. Depending on the scientific concept of development, to change way of thinking, better understand and make clear the important role played by services sector during the entire production process and supply chain. Fifthly, consumption structure change, focusing on how to expand domestic demand and consumption. Sixthly, on the "going out". 
    Zhou also emphasized that the PBOC shall make efforts to do a good job in financial services based on scientific analysis, to strengthen basic statistics, in order to provide accurate scientific basis for decision-making.
                                                                                                                                       (Edited by CBI China)