Pan Gongsheng, deputy governor of the.........>

CHINA: Pan Gongsheng, deputy governor of the People's Bank of China and head of

the State Administration of Foreign Exchange (SAFE), stressed Monday the

importance of forestalling systemic financial risks, according to a statement

posted on the SAFE website. At a discussion Monday with officials and experts on

foreign exchange reform and preventing cross-border capital flow risks, Pan

stressed the need to prevent such risks to defend economic and financial safety.

SAFE will work to improve high-level trade and liberalization of investment and 

further improve financial regulation, Pan said, describing Chinese cross-border

capital flows have been basically stable this year. Foreign exchange supervision

will support China's further opening up, serve the development of the real

economy, and facilitate mutual opening of financial markets, he said.