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China's financial system generally steady and safe

(Xinhua)
Updated: 2009-01-12 23:49

China's financial system is steady and safe in general, said Chinese Vice Premier Wang Qishan on Monday, adding the country would stick to the reform and opening-up of its financial sector.

Wang made the remarks in his meeting with Honorary Chairman Andre Desmarais of the Canada-China Business Council.

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He said countries could hardly avoid impacts from the global financial crisis along with the rapid development of economic globalization and informatization.

He said currently the most urgent things needed to do were to implement the consensus reached at the G20 summit on financial crisis, fight against protectionism in any form, and prevent the escalation and expansion of financial crisis, so as to maintain the stability of world economy and finance.

The Chinese government had set down a series of measures to maintain economic growth, boost domestic consumption and adjust industrial structure, he said.

A country with fast industrialization and urbanization, China has both advantages and the condition for transforming development mode and expand domestic demand, he said.