This incidentally is national policy, articulated by Premier Wen on the occasion of the National Finance Working Meeting held early last year. Given, however, that there are considerable controls in the financial system on the Mainland, including capital controls, and that the financial system in Hong Kong is among the freest in the world, to develop the complementary, mutually-assisting and interactive relationship between the two financial systems there is a need first to establish channels to promote the mobility in an orderly manner between the two financial systems of (1) money, (2) investors and fund raisers, (3) financial instruments and (4) financial intermediaries. Given also the increasing use and the clear prospects of the renminbi as a medium for international financial transactions there is also a need secondly to develop the ability of the financial system in Hong Kong to handle financial and other economic transactions denominated in the renminbi. Thirdly, as the mobility of money, investors, borrowers, financial instruments and financial intermediaries between the two financial systems grows, there will be rapid growth of financial traffic between the Mainland and Hong Kong. Consequently there is a need for robust links between the financial infrastructures of the two financial systems. This then is our strategy.
Ardian Fullani: Recent economic and financial developments in Albania Speech by Mr Ardian Fullani, Governor of the Bank of Albania, at the press conference on Bank of Albania (BoA) Supervisory Council decisions on Monetary Policy, Tirana, 26 January 2011. *  *  *  In its meeting of 26 January 2011, the Supervisory Council of the Bank of Albania reviewed and approved the Monetary Policy Report for the second half of 2010. Following a thorough analysis of Albania’s latest economic and financial developments and discussions on performance outlook, the Supervisory Council of the Bank of Albania decided to keep the key interest rate unchanged at 5.00%. The Council holds that current monetary conditions are appropriate for meeting the medium-term inflation target. I will proceed with a brief overview of economic developments and key issues discussed at today’s meeting that led to this decision. * * *  The Albanian economy recorded a positive development during the second half of 2010. The economic activity continued to mark growth, while main macroeconomic balances improved and risk premium and interest rates in financial markets decreased. The economic growth during 2010 relied mainly on foreign demand for Albanian goods and services, while domestic consumption and investments remained at low levels albeit positive developments. Inflation pressures remain controlled as a result of the existence of free capacities in the economy and anchored inflation expectations.