Off the wire
• 2nd-LD-Writethru-Xinhua Insight: Chinese premier expresses confidence in economy  • UN chief lauds Israel-Turkey reconciliation deal  • Sri Lanka's national airline to suspend flights to Paris and Frankfurt  • China, Vietnam hold 9th meeting of steering committee on cooperation  • Xinhua Insight: Introducing China's new consuming class -- the millennials  • Italy's Renzi urges new strategy to revamp EU after Brexit referendum  • FMs of Visegrad Four, Germany, France discuss Brexit in Prague  • Weather forecast for world cities -- June 27  • Helsinki stock exchange suffers decline on Monday  • Roundup: Fighting intensifies in Yemen as UN chief urges consensus  
You are here: 　 Home

China to continue propelling financial reform: PBOC report

Xinhua, June 27, 2016 Adjust font size:

China will continue to push forward reform and opening up in its financial sector this year, the People's Bank of China (PBOC) said in a report Monday.

Reforms to the interest rate system, yuan exchange rate management, stock and bond markets, and financial institutions were highlighted in the central bank's annual report.

The PBOC will continue to liberalize interest rates and give greater say to the market.

The foreign exchange market will be opened wider to the world and the yuan's exchange rate formation system will be improved, with the currency "basically maintained stable around a reasonable and balanced level."

China will further reform its stock and bond markets to promote direct financing, and improve corporate governance of financial institutions.

The PBOC said China's financial system "generally remained stable in 2015," thanks to continued reform, robust innovation and more support for the real economy, despite volatility in the global market.

The country will maintain its proactive fiscal policy and prudent monetary policy this year, with better supervision to prevent systemic risks, said the report. Endi