Yi Gang: Join hands in promoting green finance cooperation in Asia Keynote speech by Mr Yi Gang, Governor of the People's Bank of China, at the Financing Carbon Neutrality Roundtable, organized by the Boao Forum for Asia Annual Conference, 22 April 2021. * * * Distinguished guests, Ladies, and Gentlemen: It is a great pleasure to virtually attend this Roundtable organized by BFA.
There is still considerable inertia in the wages system from multi-year enterprise agreements and current public sector wages policies, but the direction of change is now clear. Given this evidence on inflation and wages and the very low level of interest rates, the Board decided that now was the right time to start the process of normalising interest rates.