Faced with many issues such as the industrial sector imbalance and the weak financing channels, China’s financial opening-up will be a long and arduous process. At the same time, financial opening-up also needs a relatively relaxed international environment. We will make efforts towards this end. We also need the understanding and support from the international society.
The success of any monetary policy formulation is dependent on successful communication between the central bank and all market participants. The effectiveness of communication would be greatly enhanced if there is deeper understanding among participants of all the reasoning and the process that goes behind policy making. So we greatly value this initiative that you have taken.