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blank.gif  06/01/1999,  updated at 16:00       

Hu Jintao Stresses the Needs to Further Reform China's Financial Sector

  Problems within China's financial sector are rife and must be tackled, Hu Jintao, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, has warned.

  And he urged China's senior officials to learn more about finance to make them more competent in handling economic matters.

  Hu, also president of the Party School of the CPC Central Committee, made his remarks at the opening ceremony of a training course on finance attended by senior Party and government officials from provinces, autonomous regions, military area commands and central departments.

  He stressed that as financial activities are playing an increasingly important role in economic life, it has become a must to safeguard financial security, which has a direct bearing on social stability.

  Pointing out that the Asian financial crisis is by no means over and its negative impact is beginning to bite in China, Hu added, "It is one of our central tasks to prevent financial risks and further step up financial reforms," he said.

  After the opening ceremony, Dai Xianglong, governor of the People's Bank of China, the central bank, gave a lecture on financial globalization.


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