Xi calls for more market-based interest rates, exchange rates

Source: Xinhua| 2017-10-18 12:44:07|Editor: Mengjie
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BEIJING, Oct. 18 (Xinhua) -- Xi Jinping on Wednesday called for making China's interest rates and exchange rates more market-based.

He made the remarks in a report to the 19th National Congress of the Communist Party of China (CPC).

"We will improve the framework of regulation underpinned by monetary policy and macro-prudential policy, and see that interest rates and exchange rates become more market-based," he said.

He also stressed the importance of improving the financial regulatory system to "forestall systemic financial risks."

On reform in the financial sector, Xi called for efforts to deepen institutional reform, make it better serve the real economy, increase the proportion of direct financing, and promote the healthy development of a multilevel capital market.