Senior officials at the Director-General level of the People s Bank of China participated in an executive seminar on how to thoroughly study and apply the scientific outlook on development recently in Beijing. Zhou Xiaochuan, the Party Secretary of the CPC PBC Committee and the Governor of PBC, emphasized during the seminar that, the study and application of the scientific outlook on development should be closely linked with the practical work.
Governor Zhou said that the central bank should focus on two aspects in studying and applying the scientific outlook on development. First, how the central bank should properly perform its functions in the light of the scientific outlook on development, i.e. how to better translate the scientific outlook on development into actions in its work concerning monetary policy, financial market, financial stability, financial services and other issues.
Second, as an important component of the national economy, how the financial sector can provide more dynamics and create a more favorable environment so as to set the economy on the right track in the light of the scientific outlook on development and promote the economy to grow in a sound and rapid manner.
Zhou Xiaochuan pointed out that the studying and applying of the scientific outlook on development should be based on work conditions, with attention given to the following six important issues. First, support the development of science and technology and enhance independent innovation to make China an innovative country. Second, the financial sector should serve the development of the national economy and take measures to make the environment-ameliorating behaviors more market-based. Third, leverage on financial mechanism to solve bottlenecks such as land, energy and water resources that constrain economic development. Fourth, develop the services industry by changing the mindset and emphasizing the importance of the services industry on the production and supply chain in the perspective of the scientific outlook on development. Fifth, transform the consumption structure, with the focus being laid upon expanding domestic demand. Sixth, issues regarding the Going Global strategy.
Zhou Xiaochuan stressed in particular that the PBC should make great efforts to provide sound financial services and strengthen the capacity of financial survey and statistical analysis so as to provide accurate information for scientific decision-making.
The Governor also pointed out that, in studying and applying the scientific outlook on development, PBC should put people first and concentrate on maintaining the stability of RMB exchange rate, increasing employment and supporting consumption growth so as to fulfill, safeguard and develop the fundamental interests of the overwhelming majority of the people.
Zhou noted that the PBC should also focus on promoting the sound and rapid development of the national economy by better safeguarding financial stability and establishing a favorable financial environment for economic and social development.
Participants of the seminar included senior PBC officials from relevant departments of the Headquarters and the Shanghai Head Office, branch offices at various levels, operations offices and PBC affiliations.
