2012-04-11

PBOC's Zhou: Wenzhou reform's main purpose is deregulation

周小川:温州金融综合改革要点是减少管制
Research in Wenzhou, the central bank governor Zhou Xiaochuan recently said that points of Wenzhou financial reform and focus on deregulation, support innovation, encourage private services to the grassroots level to support the real economy, supporting coordination, security and stability ". In practice, on the one hand, to strengthen organization and leadership, on the other hand should give full play the enthusiasm of the grass-roots micro-main, so rely on the market to adapt to the market ". The task of reforming of the basic conditions, the mature one, start one.

Zhou Xiaochuan pointed out, promote financial reform in Wenzhou, to encourage and guide private capital to enter the field of financial services, smooth channels for private investment to improve the small micro-enterprises and the "three rural financial services, to broaden the financing channels for enterprises to maintain financial order and prevent financial risk.

Zhou stressed, Wenzhou financial reform based on the actual of Wenzhou, Wenzhou current economic and financial operation exist more than two dilemmas "(private capital investment is difficult; SME financing difficulties) outstanding problems, standardization and the sun to explore private financing of way, while avoiding disadvantages; will help standardize the financial order and prevent financial risks, to optimize the financial ecological environment; perfect market economy, financial system and operational mechanism.
That's a Google Translation, as I'm not interested in translating dry political speak. The main point, however, is what the headline says: the essential point of the reform is deregulation.

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