As far as I know, the big State commercial banks have always been considering listing abroad and at home. |
At the same time, international capital is rather mobile, and China's economic system is still not able to withstand sudden and disorderly adjustments. |
but the important thing is that it has started to float and over time market forces will play a more and more important role. |
China has undertaken several reforms related to the safety net, healthcare reform, pension reform, education reform in the hope to reduce precautionary savings. |
China's major trading partners are the United States, the euro land, Japan, Korea, etc., and naturally, U.S. dollar, euro, Japanese yen and Korean won become major currencies of the basket. |
Chinese companies are now looking more and more at global competition. |
Currently the consumer price index is okay and we also want to boost consumption. |
Fund surveillance should comply with the objective of promoting exchange and financial stability and respect the autonomy as to exchange-rate systems that is granted to all members. |
Global trade, settlements and reserve assets are heavily reliant on a single currency. The fund should give priority to establishing a surveillance and check-balance mechanism of the major reserve currency countries. |
I don't want to say which ones I think are important or feasible. |
I think it's very clear that China is introducing a new exchange rate mechanism. It is not a one-time adjustment. |
In particular, the developed countries, while enjoying low-cost imported goods and services, have to restructure their industrial sectors quickly to create job opportunities and export advantages to improve their competitiveness and dampen protectionism. |
In the 1980s, Chinese companies tried to get out of the traditional, centrally planned economy and become market players. In the 1990s, many Chinese companies tried to restructure their company structure, to have ownership diversification, to go public domestically or internationally, and then to learn to set up new corporate governance. And after that, I think Chinese companies are looking more and more to the global competition. |
instead of transferring various risks to the government, as they did under the fixed-exchange regime. |
It will depend on how big an impact the case has on the bank's overall strength. |