Combined with recent monetary and credit developments, this suggests that downward risks to future price stability have receded further. On the other hand, all indicators we use in our monetary policy strategy do not signal upward inflationary pressures.
I am very pleased to attend the Conference to exchange opinions with such a distinguished audience on China’s financial market, monetary policy and financial reform. Many of you have paid close attention to the reform of China’s state-owned commercial banks, and today I’d like to offer my personal views on this issue based on what all other speakers have elaborated this morning. I.