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Published:August 30th, 2007 02:06 EST
President Hu calls for accelerating banking reform

President Hu calls for accelerating banking reform

By SOP newswire

China's top leader Hu Jintao has called for accelerating banking reform to push forward the sustainable and healthy development of the country's financial sector.

Hu, state president and general secretary of the Communist Party of China (CPC) Central Committee, made the call on Wednesday when presiding over a brainstorm of the Political Bureau of the CPC Central Committee.

Members of the Political Bureau attended and discussed the lectures by two banking experts, Ba Shusong, a researcher from the State Council Research Center for Development, and Li Fu'an, a senior economist from the China Banking Regulatory Commission.

Hu pledged in his speech to push forward banking reform in an all-around way, focusing on building a modern banking system and innovating organization, service and administration of the sector.

He stressed to accelerate the banking reform for the countryside, and push forward the healthy development of the financial market.

He also called for more effective use of financial means in macro-economic control and demanded to strengthen risk control to ensure the country's financial security.

He urged officials to take the lead in studying financial theories, particularly knowledge about modern banking, to increase their abilities concerning the banking sector.

Yan Liang