Zhou Xiaochuan: Financial services of the central bank and industrial development Speech by Mr Zhou Xiaochuan, Governor of the People’s Bank of China, at the High-level Forum of Industrial Development, Beijing, 12 January 2006. *  *  *  Ladies and Gentlemen, dear participants, Good afternoon. First of all, let me congratulate on the inauguration of the China Industrial Development Promotion Society.
In the foreign exchange market, the yen appreciated against the U.S. dollar toward early June, but has weakened thereafter and is currently being traded in the range of 120-123 yen to the U.S. dollar. With regard to corporate finance, private banks continue to be more active in extending loans, mainly to blue-chip companies, while carefully evaluating the credit risks involved.