Governor of the People's Bank of China, Zhou Xiaochuan, says that China is actively making preparation for the reforms on RMB exchange rate, which is a long-term process.

Zhou Xiaochuan made the remarks during the High Level Dialogue of Ministers at the 2005 conference of the Boao Forum for Asia in southernmost China's Hainan Province.

He said that China is beefing up reforms on financial institutions and enterprises so as to enlarge the role of the exchange rate market.

He added that China has its own specific goal on exchange rate reforms and will conduct the reforms in line with domestic situation.

(CRI April 24, 2005)