Second, and closely tied to the previous point, the speed at which this process proceeds will be determined by the commitment and capacity of the authorities to implement the measures required to consolidate the renminbi’s role as an international currency commensurate with China’s importance in the world economy. 11
In line with the developments in securities markets, the nature of the products offered by the market, as well as recent failures of related industries, it is important for regulators to be mindful of real-time risks as well as perceived risks associated with the industry, its products and its players. I am pleased that the organizers have included risk-based supervision in the seminar program.