Zhou Xiaochuan China Quotations

What the premier said means that China would continue to increase the flexibility of the RMB exchange rate in a gradual manner.

China has undertaken several reforms related to the safety net, healthcare reform, pension reform, education reform in the hope to reduce precautionary savings.

I think it's very clear that China is introducing a new exchange rate mechanism. It is not a one-time adjustment.

We reckon China may need two to three years to achieve a basic balance in international trade.

We know the U.S. has pressures -- employment issues and elections and the credibility of the government. For China, we could also say that the current state is not only good for China but also for the rest of the world and also good for the U.S. because we are using our foreign exchange reserves to buy U.S. Treasury bonds and subsidize U.S. consumers.

Some US economists assume that the exchange rate is the key to fixing the trade imbalance However, such assumptions failed in statistical tests by using the trade data and the real effective exchange rate recorded in China over the years.

The listing of the four big state-owned commercial banks is up to them. The reform on the Agriculture Bank of China is also underway and will not be rushed.