Home>News Center>China
       
 

Snow asks China to open finance industry
(Chinadaily.com.cn/Agencies)
Updated: 2005-10-14 09:14

Visiting US Treasury Secretary John Snow appealed the Chinese authorities in Beijing for more open participation of the world's banking corporations in China's finance sector.


U.S. Treasury Secretary John Snow receives a deep-fried twisted dough stick from a vendor at a market in Mulan township in Chengdu city, southwest China's Sichuan province, October 13, 2005. [Newsphoto]

Snow told reporters in Mulan Town, near Chengdu, the capital city of southwestern Sichuan Province, that financial market modernization is important for a variety of reasons: it will help sustain and even accelerate (China's ) growth through better use of capital.

"An unacceptably high non-performing loans ratio indicates you are putting capital in the wrong hands," he said after visiting a credit union building in the town of 36,000 on Thursday.

Snow is expected to press Chinese leaders for reforms on a broad range of fronts, including currency regime change, and to allow greater participation for Western banks in the country's tightly regulated financial system.

Snow said that in two decades of visiting China, he had noticed how China's top-class hotels had developed to rival the best in the world after foreign managers and managerial expertise were brought in by the big chains.

"We say, let's do the same with the financial sector."


U.S. Treasury Secretary John Snow visits a pork  market in Mulan township in Chengdu city, southwest China's Sichuan province, October 13, 2005. [Newsphoto]

On a side-trip during a two-stay in the remote western industrial city of Chengdu, Snow were greeted by hundreds of residents in Mulan, he his delegation inspected stalls of pork, live catfish and dried seaweed in the central market before visiting the offices of a rural credit union which extends loans to farmers.

"Developing a stronger consumer credit system in China will be important in helping to facilitate the further development of the country," he told reporters, stressing that China's "extraordinarily high" savings rate must be put to more productive use.

The United States hopes that if Chinese citizens can find ways of spending more of their savings, through more widespread use of credit cards for instance, China will bolster its domestic consumption and rely less on export growth to power its economy.

Likewise, Snow also argued greater currency flexibility from China might switch the focus from export-led growth by encouraging development and consumption at home.



Wolfowitz in Northwest China
Military drill for upcoming China-ASEAN expo
Touchdown drill in main landing field
  Today's Top News     Top China News
 

Another 'normal' day in space for Shenzhou VI

 

   
 

China, US fail to break impasse in textile talks

 

   
 

At least 85 killed in attacks in Russia

 

   
 

Snow asks China to open finance industry

 

   
 

Jealous man shoots students; injures 16

 

   
 

Lethal bird flu hits Turkey; Europe on alert

 

   
  China, Japan hold third round of talks
   
  Safety, comfort priority for designer
   
  Rocket man at end of 'Long March'
   
  Aging population takes to courts
   
  Lion attack victim 'critical but stable'
   
  On site mediation ordered
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Wen calls for further Asia-Europe coop
   
China sets no timetable on currency change
   
Finance operating on the 'right track'
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 五福影院最新地址| 动漫乱人伦视频在线观看| 69国产成人精品午夜福中文| 小雪坐莲许老二的胯上 | 我要看WWW免费看插插视频| 乱人伦一区二区三区| 欧美成人高清手机在线视频| 人与禽交videosgratisdo视频| 精品视频一区二区三区免费| 国产亚洲综合久久| 黄色一级毛片在线观看| 国产精品21区| 5060午夜一级一片| 在线看中文字幕| jizzjizz之xxxx18| 宅男66lu国产乱在线观看| 中文字幕一区二区三区在线播放| 日本一二区视频| 久久亚洲精品无码观看不卡| 最新国产乱人伦偷精品免费网站 | 韩国精品欧美一区二区三区| 国产日韩精品一区二区在线观看播放| 2022久久国产精品免费热麻豆| 国内黄色一级片| 99在线热视频只有精品免费| 天天爱天天色天天干| www性久久久com| 婷婷五月综合激情| 一区二区三区四区欧美| 第四色最新网站| 四虎国产精品高清在线观看| 草草影院ccyy国产日本欧美| 国产全黄三级三级| 黄网免费在线观看| 国产女人好紧好爽| 麻豆国产精品免费视频| 国产性片在线观看| 高级别墅贵妇交换俱乐部小说| 国产微拍精品一区| 香蕉在线视频播放| 国产亚洲综合精品一区二区三区|