Zhou Xiaochuan: Pay close attention to price trend

"Caijing reporter Jin Yu/from Washington, China's central bank governor Zhou Xiaochuan, April 24 in Washington to attend the annual spring meeting of the International Monetary Fund (IMF) and the World Bank, said that the country will use a variety of policy instruments, such as monetary ﹑ finance, to closely monitor price movements and manage inflationary expectations,　　Effectively prevent and defuse various potential systemic risks? Zhou Xiaochuan said that in 2010, China's economy is expected to continue to maintain a stable and rapid growth of the basic situation, but also face complex challenges?　　The task of adjusting the economic structure is more urgent, the task of preventing financial risk is still arduous?　　He also urged the International Monetary Fund to accelerate reforms to increase quotas and say in emerging markets and developing countries. Mr Zhou pointed out that the share structure is the core issue of IMF governance. At present, the share of emerging markets and developing countries in the IMF is grossly underestimated ﹑ lack of representativeness seriously affects the legitimacy and effectiveness of the IMF and must be rectified.　　He urged the IMF to speed up its work by completing its share inspection as scheduled by the G20 Pittsburg summit and the IMFC targets set.　　At last year's G20 Pittsburg summit, Member States agreed on an IMF quota adjustment, agreeing to transfer 5% per cent to emerging markets and developing countries and protecting the poorest countries from voting rights. According to the consensus reached between the G20 Pittsburg Summit and the IMF's Monetary and Finance committee, the IMF will complete its 14th share inspection by January 2011.　　The core of the inspection is to adjust the structure of the share to reflect the relative status of member countries in the world economy, while adjusting the total amount of the IMF's share. "The adjustment and reform of quotas is not a 0 and a game," Zhou said: "The IMF's more rational governance structure can better protect global economic and financial stability, which will benefit all Member States?" "Mr Zhou also noted that despite the positive momentum of the global economic recovery, global financial stability remains fragile and the global economic outlook faces many uncertainties."　　While sovereign debt risk has become a threat to global financial stability and economic recovery, its potential systemic impact deserves attention? At the same time, the uncertainty of liquidity and exit policies injected into financial markets by the major developed countries has increased the volatility of international capital flows and increased the difficulty of short-term capital flow management in emerging market economies.　　The risks of rising trade and financial protectionism cannot be ignored. Zhou Xiaochuan called on the developed countries with weak economic recovery to rebuild fiscal discipline as soon as possible, take measures to curb the transmission and amplification of sovereign risks and avoid trans-border contagion, accelerate financial sector reform and restore the normal function of the financial system as soon as possible, accelerate structural reform and increase the potential of economic growth.　　Consider not only inflationary pressures, but also spillover and potential systemic risks from excess liquidity in the financial system. At the same time, States should further strengthen cooperation and share responsibility, especially in strengthening the coordination and foresight of macroeconomic and financial policies, resolutely oppose all forms of protectionism and jointlySafeguarding financial market stability and promoting a robust global economy ﹑ sustainable recovery? The IMF's policymaking body, the International Monetary and Financial Committee, 24th pledged to urge the IMF to accelerate its own reforms, and urged IMF members to implement financial regulatory reforms? The committee issued a communiqué after the meeting that the financial system was the cause of the crisis, but the financial regulatory reform has not yet been completed? In its communiqué, the International Monetary and Financial Committee welcomed the IMF's cooperation with the Group of 20 and urged the IMF to help its members to step up the exit strategy for the stimulus package and promote a balanced and stable recovery in the world economy.