One month after taking office, Yi Gang, the new governor of the central bank, has an important test.

category:Society
 One month after taking office, Yi Gang, the new governor of the central bank, has an important test.


Washington, the annual International Monetary Fund (IMF) and the World Bank spring annual meeting are being held. On the 20 day, Yi Gang met with Chairman Jerome Powell of the Federal Reserve during the meeting, exchanging views on issues such as the Sino US economic and financial situation and monetary policy. In recent days, Yi Gang found that Yi Gang met with central bank governors in countries and regions such as Ukraine, Scotland, Argentina, Switzerland, Suriname and other countries and regions, as well as Vice Premier Shandaman of Singapore, and exchanged views with them on the economic situation, financial cooperation, the group of twenty and the tight currency. On the 19 day, Yi Gang also attended the BRICs finance ministers and central bank governors meeting held during the annual meeting. The meeting focused on the issues of practical financial cooperation in the BRICs countries, including the BRICs emergency reserve arrangement (CRA), the BRIC Bond Fund (BBF), the new development bank and the cooperation under the G20 framework. Every spring, the finance ministers, central bank governors and economic experts from more than 180 countries gather at the annual spring annual meeting of the IMF and the world bank to deal with major global economic problems and development plans. Yi Gang previously served as vice president of the central bank, he led several times to participate in the group. At last years annual meeting, Yi Gang participated as a guest in the 50 year development: SDR in the international monetary system, to discuss how the SDR will improve the international monetary and financial system. The annual meeting is held in the face of severe challenges in the world economy and financial markets. Sino US trade friction is undoubtedly the focus of the conference. Lagarde, the president of the International Monetary Fund, in a speech in Hongkong last week, warned that some countries were adding punitive tariffs to their competitors and led to the collapse of the world trade system, a unforgivable, collective decision failure. She called for disagreements in the absence of special measures, and pointed out that the United States could help solve the trade imbalance by gradually reducing public spending and increasing income. In addition, the path of world economic development is still full of protectionism, unilateralism, war, debt and other issues, and people are also very much expected to achieve some positive results in this year. In this regard, Yi Gang will bring about the China plan in this years meeting, which has attracted much attention, especially the firm determination of chairman Xi Jinping of the Boao Forum on Asia to expand Chinas opening up, which has aroused wide resonance in the world. In fact, a week before the annual meeting, China has made concrete measures for financial liberalization. 12, Yi and Lagarde jointly announced the Chinese - International Monetary Fund joint capacity building center was officially launched, will include Chinese, The Belt and Road countries along with various training courses, capacity building support along the country, promote exchanges and mutual learning. Yi Gang and Lagarde attended the starting ceremony. Source: central bank website Yi Gang said at the launching ceremony, Chinese is willing to work with all parties to strengthen investment cooperation, and jointly promote the The Belt and Road construction, build an open global economy. The governor of Changan Avenue noted that for a month, Yi Gang was able to cash in on his commitments when he took office. In March 19th, when asked about the main task after he took office, he said he wanted to carry out a sound monetary policy, promote financial reform and openness, and keep the financial sector stable. As a result, Yi Gang took the first action after taking office, aiming at the opening of the third party payment. In March 21st, the central bank issued the public announcement [2018] seventh of the peoples Bank of China (No. seventh). It is clear that the access and regulatory policy of the foreign investment Payment institutions will be the same as those of the domestic capital institutions, which also means that the restrictions on the admission of foreign investment Payment institutions will be formally liberalized. After that, Yi Gang made its first public appearance after being the governor of the central bank. He put forward three principles and roadmap to promote the opening of the financial field in the China Development Forum, and indicated that the current banking system, the securities market and the insurance market could completely prevent and dissolve the possible risks caused by Sino US trade disputes. In April 11th, at the Forum on the normalization of monetary policy at the 2018 annual meeting of the Boao Forum on Asia, Yi Gang raised up to 12 financial opening measures and gave a clear timetable. Of these, 6 are expected to be implemented in the first half of the year, and 5 will be implemented in the first half of the year. Yi Gang attended the Forum on normalization of monetary policy of the Boao forum for Asia. Just three days ago, the central bank also announced that it would reduce the deposit reserve ratio of some financial institutions by 1 percentage points to replace the medium-term loan facility (MLF). This measure is aimed at guiding financial institutions to increase support for small and micro enterprises and increase the stability of banking system funds. The central bank stressed that it will continue to implement a prudent and neutral monetary policy, maintain a reasonable and stable liquidity, and guide the steady growth of monetary credit and social financing scale. In the past 40 years of reform and opening up, China has always promoted the construction of an open world economy with practical action. The experience also shows that Chinas economy has become the main source of economic growth in the world. In the face of many challenges in the global economic and trade governance system, what role China will play and how the world will look forward to the powerful Chinese voice and Chinese wisdom.