Securities Times 22 Financial News Summary

Wang Qishan: China supports EU financial stability measures

The third Sino EU high-level economic and trade dialogue was held in Beijing yesterday.

Wang Qishan, vice premier of the State Council, said that China supports the package of financial stability measures adopted by the European Union and the International Monetary Fund, and has taken practical action to help some European Union countries deal with the sovereign debt crisis.

China EU economic and trade cooperation is standing at a new historical starting point. The two sides should seize the opportunity to accelerate the pformation of economic development mode and readjust the economic structure, tap the potential and jointly cultivate high tech, new materials, energy saving, environmental protection, aerospace and other cooperation highlights.

China can expand capital account liberalization in the medium term

A meeting summary issued by the people's Bank of China recently pointed out that China has reason to expand capital account liberalization in the medium term to enhance the ability of companies and household sectors to engage in long-term trade and benefit from financial globalization.

The minutes of the meeting came from the macro Prudential policy conference held by the International Monetary Fund (IMF) in Shanghai in October 18th this year.

The meeting pointed out that China can gradually implement the full convertibility of capital accounts, so that the environment is fully pparent to enterprises and families, and administrative measures will gradually give way to more pparent price measures.

The US Federal Reserve extends the currency swap agreement with the five major central banks

The Federal Reserve announced on the 21 day that it would extend the currency swap agreement with the Western five central banks, such as the Bank of England and the European Central Bank, to August 1, 2011, so as to provide the overseas financial institutions with the required us dollar funds.