Beijing- Former Chinese VP calls for improved financial supervision
www.chinaview.cn 2009-07-05 21:06:15   Print
 
 

    Former Chinese Vice Premier Zeng Peiyan on Saturday called for the whole world to work together to seek reforms in financial supervision, boost economic restructuring and build a green economy.

    The present financial crisis has revealed deep-rooted structural imbalance within the traditional economy and developing pattern, and the world should focus on solving such issues in the post-crisis era, he told Xinhua during an exclusive interview at the Global Think Tank Summit.

    The international community should jointly improve the global financial supervision system with generally-accepted regulatory standards to monitor and intervene on possible systematic risks as early as possible, Zeng said.

    The international currency system should be reformed into a steady, foreseeable and diversified one, and it is necessary to set supervision on the financial stability of nations of major reserve currencies, he said.

    Zeng also called on developed countries to help developing countries by improving their external environment for economic development and to build a green economy, as developing countries have already become the biggest victims of the present crisis.

    The summit, which concluded on Saturday, is organized by the China Center for International Economic Exchanges (CCIEE), a non-governmental research and consulting organization created this March, with Zeng as its director.

    Over 900 scholars, experts and business leaders from all over the world made their attendance, including former President of the European Commission Romano Prodi and former Secretary of State of the United States Henry Kissinger.

    Xinhua News Agency correspondents reporting from Beijing. (XHTV)

 
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