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China vows to help maintain global finance stability

Premier Li Keqiang has met with Stefan Ingves, the chairman of the Basel Committee on Banking Supervision in Beijing.

Li said the world economic situation is complicated and the global finance system is still vulnerable.

Li said that progress in finance was dependent upon real economy growth and China is willing to gear up financial reforms to support economic development and help maintain world financial stability.

Ingves said China witnessed great achievement in its financial reform process. He added that the Basel Committee is willing to enhance the cooperation along with the supervision units in other countries. He said the two sides should work closely together to stabilize the global finance system and promote the world economic recovery.