But like any public institution, central banks have to be careful not to be captured by any special interest group. An independent central bank must act as a macroeconomic institution and not as a lobbyist for the financial sector – and I am sure all responsible central banks are very much aware of this.
I am very pleased to attend the International Seminar on the Application of Credit Information Products in Managing Credit Risks of Commercial Banks. First, on behalf of the People’s Bank of China, I would like to express gratitude to our co-sponsor of this seminar, the International Finance Corporation.