Vice-Premier Huang Ju has called for "continuous efforts in strengthening and improving macro-control in the financial sector and unswervingly pushing forward financial reform, so as to contribute to a stable and relatively fast economic development in China."

Huang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made these remarks at a work conference of the People's Bank of China (PBC), the central bank.

"The central bank should continue to implement the government's moderate, steady monetary policy, regulate the general amounts of currency and loans in a rational way and further improve financial services. Relations between stability, regulation, reform and development in the financial sector should be handled well," he said.

Huang urged the PBC to make still greater efforts in examination and supervision on the Bank of China (BOC) and the Construction Bank of China (CBC), which are being transformed into joint stock banks. Other Chinese banks should also deepen their reforms, he said.

Huang highlighted the importance of the central bank, saying that the PBC's work has an impact on China's economic development and financial stability.

The central bank is currently holding its annual work conference in Nanning, the capital of the Guangxi Zhuang Autonomous Region.

(Xinhua News Agency January 7, 2005)