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China confident of maintaining financial stability

(Agencies)
Updated: 2008-09-22 11:17

China is confident and capable of maintaining stable financial markets amid the global market turmoil, said Su Ning, vice governor of the People's Bank of China.

China's financial markets are stable with the banking system's liquidity at high levels, Su said at a forum over weekend. His remarks were published on the central government's website.

The international turbulence poses heightened risk to China's financial sector, but the large domestic market and the vitality of the domestic economy provides China the ability to meet the challenges, he said.

He noted that domestic consumption has contributed more to economic growth than before, while natural disasters and global economic troubles have not altered the fundamentals of the world's fastest expanding economy.