News & Reports News Year 2012 September , 2012 Financial reform plan to be out soon

Financial reform plan to be out soon

A VICE governor of China's central bank has said the country will soon release a plan for its financial reform in the 2011-2015 period.

The plan will cover areas such as the marketization of interest rates, the liberalization of exchange rates and the internationalization of the yuan, said Pan Gongsheng, vice governor of the People's Bank of China.

It will also touch on areas such as reforms of direct and indirect financing in the country's financial structure and the development of micro-sized financial organizations, Pan said at an academic symposium held in Beijing over the weekend.

Pan added that the nation's financial revamp must follow a basic principle that adheres to market and commercial reforms.