Zhou Xiaochuan, governor of the People's Bank of China (PBOC), the country's central bank, has renewed calls for accelerated reform and opening-up of the Chinese financial markets, in an interview with financial magazine Caijing that was published on Monday.
The PBOC chief said that there were three driving forces in the opening of the Chinese economy, which he defined as the "troika": open trade, a market-based foreign exchange rate mechanism, and reduced controls on foreign exchange operations, according to Caijing.
"It is these 'troika' forces that have dragged us forward in the past three decades," Zhou said, adding that they are still a vital force in propelling China's reform and opening-up process.
He called for continued reforms, saying that "some reforms should be accelerated if the timing is appropriate."
