On August 6-8, 2009, the People s Bank of China (PBC) and the Bank for International Settlements (BIS) co-hosted in Shanghai the Wrap-up Conference of the BIS Asian Research Programme. The conference was focused on the subject "The International Financial Crisis and Policy Challenges in Asia and the Pacific". It wrapped up the three-year research programme initiated by the BIS on issues of concern to central banks or monetary authorities in the Asia-Pacific region.
About 50 participants were present at the conference, including Mr. Caruana, BIS General Manager, responsible officials from 12 BIS member central banks or monetary authorities in the Asia-Pacific region and relevant scholars.
The conference discussed in particular the impact of the international financial crisis on the Asia-Pacific region and policy challenges faced by central banks in the region. Three topics were separately explored, i.e. monetary policy and exchange rates, market development and financial stability. PBC Governor Zhou Xiaochuan attended the conference and introduced the measures China had taken to maintain financial stability.
