China will further deepen financial reform....>

CHINA: China will further deepen financial reform and enhance the capacity of

its financial system to serve the real economy, President Xi Jinping said during

the opening of the 19th Communist Party Congress on Wednesday. China will

improve the management framework of both monetary policy and macro-prudential

policy and continue to push forward market-oriented reforms of interest rates

and the exchange-rate system, Xi noted. China will optimize the financial

regulatory system and hold to its bottom line of avoiding systemic financial

risks, Xi reiterated. The country will enhance reforms to its system of

investment and fund-raising through stock and bond markets, and ensure that

investment plays a decisive role in improving China's supply structure, he said.

The "fiscal relationship" between the central and local governments will also be

clarified, Xi added.