China's Zhou charts market progress

Promoting innovation and development in the financial market is imperative, according to Zhou Xiaochuan, the governor of the People's Bank of China.

Zhou praised the progress made in China's financial markets: "After ten years of development, the inter-bank market has evolved into a multi-layered system with many sub-sectors including bonds, inter-bank borrowing, bills, gold and foreign exchange markets."

But the governor admitted that the finance industry faced problems such as:

the imbalance

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