The People’s Bank of China released the 2006 China Financial Stability Reportin Beijing on 30 October 2006. This is the second Financial Stability Report by the People’s Bank of China.
The newly released Report made a comprehensive assessment of the stability status of China’s financial system. According to the Report, under the guidance of the State Council, breakthrough has been achieved in financial reform and risk dissolution, thanks to the joint efforts of various departments. The financial sector has made great strides, as reflected in thebuilding of financial infrastructure, improvement in financial eco-environment and further opening-up. The stability of the financial system has been enhanced. The Report also lists the current priorities in maintaining financial stability, and points out that reform, opening-up and innovation should be the overriding theme in order to facilitate sound development of the financial industry and preserve financial stability.
The 2006 China Financial Stability Report offers a panoramic view of the reform and development of China’s financial industry and the state of its soundness in 2005. Its publication is of significance to maintaining financial stability in the country.
