Zhou Xiaochuan: Monetary Policy Remains Unchanged; &Nbsp; The Opportunity To Save Europe.

Zhou Xiaochuan, the governor of the central bank, said the next step was to see whether Europe could implement the relevant resolutions, saying that IMF should continue to improve its share and governance structure.

Regarding the issue of China's assistance to Europe after the European debt crisis, central bank governor Zhou Xiaochuan made the latest statement: the timing of China's aid to Europe is at stake, first of all, let's see what the Europeans are going to do next.

Zhou Xiaochuan made the statement after attending the twenty-fourth Ministerial Conference of the International Monetary Fund (IMFC) in September 24th.

Talking about how

According to reports, Zhou Xiaochuan met with reporters after the IMF meeting, saying that the next step is to see whether the euro zone countries can implement the resolution of the July 21st EU summit. Now some countries are still discussing and need to make some decisions through some procedures. Before that, China can study, but it is not easy to say what to do next.

Last Thursday, Yi Gang, vice president of the central bank and director of the State Administration of foreign exchange, pointed out at the annual meeting of IMF that China has limited help to solve the European debt crisis.

He said that although China's foreign exchange reserves are large, taking into account the overall size of the European market, as well as internal and external investment in Europe, China's investment is important, but only to provide limited help.

EU's July 21st emergency summit decided

Prior to that, the BRICs (Brazil, Russia, India, China and South Africa) issued a joint statement saying they were willing to provide assistance to Europe, if necessary, in accordance with national conditions, through the International Monetary Fund (IMF) or other international agencies.

Zhou Xiaochuan emphasized the reform of IMF at the same time.

After the briefing, the central bank pointed out that Zhou Xiaochuan believed that IMF should continue to improve its share and governance structure, and promote the entry into force of the share reform package in 2010 as soon as possible, effectively protecting the source of long-term funds to meet the needs of member states in coping with the crisis and promoting the diversification of the international reserve currency system.

The tone of domestic monetary policy remains unchanged.

In the domestic economy, the central bank pointed out in the briefing after the meeting that China's economic growth momentum is still strong in the current and future periods, but in the short term, it is also facing the challenges of rising prices and capital inflows.

In the future, the Chinese government will further grasp the direction, intensity and rhythm of macroeconomic policies, deal with the relationship between maintaining the steady and rapid economic development, adjusting the economic structure and managing the inflation expectations, maintaining the general stability of the general price level, and preventing the great fluctuation of the economy in the three.

Zhou Xiaochuan also said in Washington that the central bank

Declare oneself

CIC: no intention to buy Eurobonds

Gao Xiqing, general manager of China Investment Corp, said at the world bank and IMF annual meeting on Saturday that CIC could not simply try to "save" Europe, but first of all, to protect its own interests.

He said he had no intention of investing in eurozone joint bonds.

Wen Jiabao, premier of the State Council, said at the Davos summer forum that although Europe is now in debt crisis, China believes that the European economy can overcome difficulties and is willing to expand its investment in Europe.

Gao Xiqing said on the same day whether he would buy the joint eurozone bonds under discussion, saying that CIC is responsible for the state and needs to consider various risk factors to ensure profitability. "So we can not just go to Europe to save anyone, we have to protect ourselves", he said.

Lagarde, President of IMF, said in September 22nd that the debt crisis in Europe was very serious and confidence in financial markets was severely hit.

Gao Xiqing said on that day that the European debt problem was caused by many factors such as politics, economy and culture.

From the current situation, the problems in the European financial system are facts and need to be re examined.

He believes that China must first solve its own problems, and can not expect others to help, nor can others expect China to help.

Earlier, it was reported that Italy's Ministry of Finance had contacted CIC and hoped that China could buy a large number of Italy treasury bonds.

The news was denied by Italy.

CIC is China's sovereign wealth fund. By the end of 2010, the total assets of the company amounted to US $409 billion 600 million, net profit of US $51 billion 560 million, and its global portfolio return rate was 11.7%, unchanged from the previous year.

Correlation

IMF downgrades China's GDP growth forecast

IMF Asia Pacific director Anup Singh said at the annual meeting on Saturday that Asia will continue to maintain strong economic growth momentum, but emerging economies need to tackle a series of challenges such as overheating.

Singer said Asia's emerging economies still need to cope with high economic overheating and inflationary pressures, of which the real estate market is the most overheated sector.

He also said Asian economies need to deal with the impact of the European debt crisis.

According to the "world economic outlook" just released by IMF, the economic growth rate of Asian developing countries in the next two years is expected to be 8.2% and 8% respectively, which are lower than those predicted in June this year.

Singer believes that as an important engine of Asia's economic growth, China needs to further promote consumption in order to continue to maintain a strong growth rate in the future.

According to IMF's forecast, China's GDP growth rate this year is 9.5%, a percentage point lower than originally expected.

This is the first time this group has lowered China's economic forecast for the first time this year, while inflation expectations have also risen sharply.