China's central bank has outlined its top priorities for the moment. In a statement on its website, the governor of the People's Bank of China, Zhou Xiaochuan, said key tasks are to look for effective ways to maintain a stable value for the Chinese yuan, and how to create enough jobs and boost domestic consumption.
And on current turmoil in global markets, the central bank is denying media reports that China will buy up to 200 billion US dollars worth of treasuries to help Washington combat the deepening crisis.
Instead, the spokesman for the PBOC, Bai Li, has stressed that China welcomes the massive bailout plan passed late last week by the US Congress, and is also prepared to work with the international community to restore security and confidence to financial sectors.
(CCTV October 8, 2008)
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