Premier Wen Jiabao has called for deepened reform of the financial sector so
as to enhance its sustained and healthy development, according to an article to
be published today by the Party journal Qiushi (Seeking Truth).
Wen, also a member of the Standing Committee of the Political Bureau of the
Communist Party of China (CPC) Central Committee, said in the article that China
has made marked achievements in the financial sector since the 16th National
Congress of the CPC held in 2002, and made headway in financial reforms.
opened its financial sector steadily to the outside and intensified supervision
and management of the sector while enhancing its legal system.
Wen called on efforts to cope with the new situation China faces in
developing its financial sector.
With globalization, international financial markets are more closely linked
and liquidity is expanding in scale. China's financial sector is playing a
marked role and imposing a notable influence on the country's economy and the
world at large, Wen said.
The article listed six major tasks for the country's financial sector in the
future. They are:
To further enhance sustained and healthy development of the sector, so as to
meet the diversified financial needs in economic and social development.
To optimize the financial structure and improve the distribution of the
multi-layer financial market system, and urban, rural and regional financial
To deepen the reform of financial enterprises and speed up its operation
To further improve financial services and the control mechanism so as to
promote steady and fast development of the national economy and realize
development based on scientific concepts.
To push forward the opening-up of the sector to boost development of China's
financial industry and improve the industry's competitiveness.
To establish a sound legal system in the sector and intensify management to
boost safe and stable development.
(China Daily 03/01/2007 page2)