People's Bank of China Governor Zhou Xiaochuan

  • Global economy still has uncertainties
  • Deepening financial reform is a global issue
  • Cross-Border Interbank Payment System (CIPS) to be officially launched in Shanghai

(CIPS is for yuan settlements)


  • Most sectors in service industry can be opened ... financial services industry need to be opened further
  • Financial instability may lead to chaos


Zhou is speaking at an annual gathering for the Bank along with the 3 major China financial regulators