Reform global monetary system

China should play an important role in the process of improving the international monetary system, Xia Bin, head of the Financial Research Institute of Development Research Center of the State Council, a government think-tank, said in Saturday's China Securities Journal. The following is an excerpt.

Whether or not China could grasp the opportunity of joining international monetary system reform has a direct bearing on the health of the economic growth for another 30 years.

The current global financial crisis not only poses challenges to China's economy, but also offers opportunities for it to adjust economic structures and join in international monetary system reform.