Further policy of RMB reform denied
(Chinanews.cn)
Updated: 2006-07-12 14:45
Wu Xiaoling, vice governor of the People's Bank of China (PBOC) denied the
speculation that the central bank was planning to hold an emergency meeting and
would issue a new policy to push forward the foreign exchange reform with the
approaching of the first anniversary of the reform of RMB exchange rate
mechanism, according to the Hong Kong-based daily newspaper Wenhuipo.
Wu dismissed the speculation as nonsense and pure rumor during a financial
seminar held in Tsinghua University in Beijing on July 9.
Wu also made comments at the seminar on the development of China’s venture
capital investment companies. She said it was regretful to see many venture
companies being listed overseas because of the unaccessiblility of listing in
the domestic market and the Chinese technology products could not blossom and
bear fruit in their own country.
She said while it was necessary for the government to push forward the
technological innovation of companies’, the market should play an essential role
and therefore the technological innovation with the push of the market should
need venture capital investment and the application of the technology should
also need the investment of social capital.
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