Prompt, decisive and effective policy measures implemented by the Chinese government have helped to curb rapid decline in economic growth, People's Bank of China Governor Zhou Xiaochuan said Thursday.
In an article published on the central bank's Web site, Zhou said China expect to maintain stable economic growth by boosting domestic demand and reducing dependence on external demand, thus serving as a stabilizing force in global economy.
He said macroeconomic measures have produced preliminary result and some leading indicators are pointing to recovery of economic growth.
Earlier in the week, Zhou had repeated his call for a new global reserve currency managed by the International Monetary Fund.
Pointing out the dangers of relying on the one national currency without explicitly mentioning the dollar, Zhou had insisted that an international reserve currency disconnected from individual nations would be able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies.
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