USA-IMF/China

IMF praises China's achievements in financial sector

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FILE: Beijing, China - Exact Date Unknown
1. Various of People's Bank of China
2. Logo of Bank of China
3. Screen showing queue number
4. Bank clerk
5. Various of machine counting RMB notes
6. Various of people counting RMB notes

Washington D.C., USA - Dec 6, 2017
7. SOUNDBITE (English) Ratna Sahay, deputy director, Monetary and Capital Markets Department, International Monetary Fund (IMF):
"Chinese financial system has been very supportive of the high growth rates in China and it has also helped in reducing poverty rates, bringing it down to a very low level."
8. Reporter interviewing Sahay
9. SOUNDBITE (English) Ratna Sahay, deputy director, Monetary and Capital Markets Department, IMF:
"The authorities have recently announced that they would allow the participation of foreigners into the financial sector and they will do this slowly over time. And we think that this will help increase competition and increase efficiency. It will also help in pricing risks more accurately. So I think these are developments in the right direction."

FILE: Beijing, China - Exact Date Unknown
10. Machine counting RMB notes
11. Various of clients at bank

Storyline


China has made great achievements in the financial sector, said an official with the International Monetary Fund (IMF).

Ratna Sahay, deputy director of the Monetary and Capital Markets Department of IMF, made the remarks in an exclusive interview with the China Global Television Network (CGTN) in Washington D.C. on Wednesday after IMF released an assessment report on China's financial sector.

Sahay said China's financial system has sustained the country's fast economic growth and helped reduce poverty.

"The Chinese financial system has been very supportive of the high growth rates in China and it has also helped in reducing poverty rates, bringing it down to a very low level," said Sahay.

Sahay said China's financial reform is going on in the right direction.

"The authorities have recently announced that they would allow the participation of foreigners in the financial sector and they will do this slowly over time. And we think that this will help increase competition and increase efficiency. It will also help in pricing risks more accurately. So I think these are developments in the right direction," said Sahay.

IMF recognized the fast development of China's financial market amid the steady economic growth and referred to it as a large, dynamic and interconnected financial system in the report.

IMF began to conduct financial sector assessment of 29 economies with systemically important financial sectors on a mandatory basis in 1999. It first assessed China's financial sector in 2011, and the IMF assessment report on China released on Wednesday was the second one.


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  • ID : 8068079
  • Published : 2017-12-07 14:26
  • Last Modified : 2017-12-07 20:02:52
  • Location : Washington D.C.,United States
  • Category : economy, business and finance
  • Duration : 1'36
  • Audio Language : English/Nats
  • Source : China Global Television Network (CGTN)
  • Restrictions : No access Chinese mainland
  • Version : 1
  • ID : 8068079
  • Published : 2017-12-07 19:29
  • Last Modified : 2017-12-07 20:02:52
  • Location : Washington D.C.,États-Unis
  • Category : economy, business and finance
  • Duration : 1'36
  • Audio Language : Anglais/Nats
  • Source : China Global Television Network (CGTN)
  • Restrictions : Pas d’accès dans la partie continentale de Chine
  • Version : 1
  • ID : 8068079
  • Published : 2017-12-07 18:35
  • Last Modified : 2017-12-07 20:02:52
  • Location : واشنطن,الولايات المتحدة
  • Category : economy, business and finance
  • Duration : 1'36
  • Audio Language : الإنجليزية/الصوت الطبيعي
  • Source : China Global Television Network (CGTN)
  • Restrictions : ممنوع البث في بر الصين الرئيسي
  • Version : 1
  • ID : 8068079
  • Published : 2017-12-07 20:01
  • Last Modified : 2017-12-07 20:02:57
  • Location : Вашингтон,США
  • Category : economy, business and finance
  • Duration : 1'36
  • Audio Language : Английский/Естественный звук
  • Source : Центральное телевидение Китая
  • Restrictions : Не доступно материковой части Китая
  • Version : 1
  • ID : 8068079
  • Published : 2017-12-07 18:39
  • Last Modified : 2017-12-07 20:02:52
  • Location : Washington D.C.,Estados Unidos
  • Category : economy, business and finance
  • Duration : 1'36
  • Audio Language : Inglés/Nats
  • Source : Televisión Central de China
  • Restrictions : No acceso a la parte continental de China
  • Version : 1
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