Researchers of the People s Bank of China (PBC) were called on to properly focus their research efforts so as to better support the decision-making on major issues at the annual research conference held on March 19 and 20 in Shanghai.
During the Conference, officials from PBC research departments summarized the progress made in the last year, discussed the changing situations and new challenges, and outlined the work in 2009.
In 2008, the research departments in PBC Headquarters and branch offices made timely studies on issues related to the global financial crisis, strengthened analysis of economic and financial developments, and enhanced research on improving rural financial services. PBC research staff participated in the design of major regional development plans, pressed ahead with research on financial legislation, and improved basic research programs and research on characteristic subjects. The overall research capacity was improved.
When addressing the conference, Yi Gang, Deputy Governor of the PBC, underscored the significance of the meeting, which was convened at a time when domestic and international economic landscape underwent profound changes, and called upon the participants to do their part with a keen sense of responsibility.
He emphasized that research efforts should be focused on how to deal with the crisis, prevent risks, strengthen macroeconomic management to maintain economic growth, and how to advance reform in the longer term. The Deputy Governor also identified several priorities for the research work in 2009. First, closely follow the developments of the global financial crisis and strengthen research on crisis response.
Second, step up research efforts on macroeconomic management policies, rural economic development, the shift of the economic development model, economic restructuring, employment, people s livelihood and other major issues. Third, enhance research on the financial sector reform and development.
Yi Gang pointed out that, despite the progress already achieved, PBC research departments should further enhance their research capacity to meet the need of a changing global economic situation. Particularly, the research departments should intensify research on distinctive subjects.
An awarding ceremony for key research programs in 2008 was held during the conference. Three lectures were given at the conference, one of which was delivered by Deputy Governor Yi Gang entitled Inherent Logic of Reforming China s Banking Sector.
