Stabilizing China's Finances A stabilized Chinese financial industry not only will be conducive to domestic development, but will also contribute to the world economy

On October 30, the Peopl e ’ s Bank of China — China ’ s central bank— issued the Repo r t on Chinese Financial Stability 2006. The repo r tco n c luded that China’s fin a n c i a l ref or m has undergone tremendous brea k - th r oughs, financial risks have been handled pr op e r ly, and that the Chinese fin a n c i a l in d u s t r y is gen e r al l y stable . “A stabi l i z ed Chinese financial sector is good news for the wor ld economy,” noted Liu Fuxiang, prof essor with Unive…