Zhou Xiaochuan
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"Zhou Xiaochuan" is a Han Chinese/Chinese economist, banker, reformist and bureaucrat. As governor of the People's Bank of China since December 2002, he has been in charge of the monetary policy of the People's Republic of China. He was reappointed to the same position in March 2013, making him the longest-serving central bank chief since the establishment of the People's Republic of China.

He has previous held leading posts in trade and finance organizations such as Vice-Governor of the People's Bank of China, Director of the State Administration of Foreign Exchange, Governor of China Construction Bank, and Chairman of the China Securities Regulatory Commission. Zhou is associated with Jiang Zeming and the Shanghai clique of politicians.

Zhou is one of the most influential economic figures in the world and was ranked 4th by Foreign Policy in the Top 100 Global Thinkers report of December 2010. In both 2011 and 2012, he was included in the 50 Most Influential (Bloomberg Markets ranking)/50 Most Influential ranking of Bloomberg Markets Magazine.

More Zhou Xiaochuan on Wikipedia.

Otherwise, in two or three years' time, once domestic consumption loses steam, there will then be a lot of pressure around issues such as the exchange rate and trade friction.

We should go further to reform but respect economic stability. Timing is important.

The conditions for a free float do not exist at present. The global economy is not balanced, there are still many unstable factors and there will be a lot of adjustments in future.

At the same time, international capital is rather mobile, and China's economic system is still not able to withstand sudden and disorderly adjustments.

I think it's very clear that China is introducing a new exchange rate mechanism. It is not a one-time adjustment.

But the important thing is that it has started to float and over time market forces will play a more and more important role.

Our investment demand has been very strong for several years, so we are now trying, to some extent, to slow down investment and enhance the household consumption demand to improve the economic structure.

They will constitute the basket of the currencies and be weighted accordingly.

Instead of transferring various risks to the government, as they did under the fixed-exchange regime.