China's Financial Stability Report Released
8 November 2005 (CHINA KNOWLEDGE PRESS)
Nov. 8, 2005 (China Knowledge) - The Peoples Bank of China (PBC) announced yesterday its first ever release of the Chinas Financial Stability Report.
The report offers a wide perspective on the financial stability of Chinas financial system and an appraisal on the countrys prevention and mitigation against systemic financial risks. It recognizes that the financial sector has gone through a continual revolution in terms of liberalization and expansion. During the transition period, the sector has seen many financial risks and its stability is soon taking its form. Furthermore, it also suggested many proposals and policies to safeguard such stability.
Liu Shi Yu, Assistant Governor of the PBC, said that this Report signifies a milestone in the safeguarding of Chinas financial stability. The two other equally important reports include the PBC Annual Report and the Chinas Monetary Policies Execution Report.
In order to ensure that these functional adjustments are carried out smoothly, the PBC has set up the Financial Stability Department in its main office, and Financial Stability Offices in its branches and province capital.
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