China's vice-premier pledges to deepen financial reform

Chinese Vice-Premier Huang Ju said in Beijing Tuesday that China will continue to push forward the reform in the financial sector.

Huang told members of the International Advisory Committee of the China Banking Regulatory Commission during a meeting that deepening financial reform has been a key area of China's economic reform.

"Since last year China has launched an overall reform in its financial sector and scored great breakthrough in a number of areas," Huang said.

China conducted shareholding reform in three leading state commercial banks, the China Construction Bank, the Bank of China and the Industrial and Commercial Bank of China.

In addition, China has tried to establish a supervisory mechanism that is in conformity with international standard and China's specific conditions.

"The establishment of a new supervisory mechanism is a major task of our reform," Huang said.

Members of the International Advisory Committee of China's top banking regulatory body include current and former top executives of financial institutions from Hong Kong, Britain, Spain and Japan.

Source: Xinhua