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Top leaders urge greater financial reform

(AFP)
Updated: 2007-01-24 08:55

Both reports come after a key-meeting on the world's fourth-largest economy pledged China would better manage its more than one trillion dollars in foreign exchange reserves and improve access to finance in its rural areas.

The two-day National Financial Work Conference, which wrapped up over the weekend, has only been held twice before in the nation's history -- in 1997 and 2002 -- highlighting the unusual importance of the event.

China's foreign exchange reserves, the world's largest, reached 1.07 trillion dollars at the end of 2006, the first time they ended the year above the one-trillion-dollar-mark, the central bank said last week.

Wen, who also presided over that meeting, told delegates: "China will steadily push forward foreign exchange rates reform and actively explore and expand the use of its foreign exchange reserves."


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