the two separate inaugural joint meetings between central bank governors and ministers of finance for both comesa and sadc. i also co - chaired the first meeting of the sadc peer review panel held in october 2011 in mauritius. the bank hosted the 34th committee of central bank governors of sadc in april 2012 and the 19eme conference des gouverneurs des banques centrales des pays francophones in may 2012. in august 2012, i acceded to the vice - chairmanship of the aacb and the bank will be hosting the 37th assembly of governors in august 2013. • the bank of mauritius is the settlement bank for the regional payment and settlement system ( repss ) of the comesa. repss went live on 3 october 2012. i am delighted that this project in which the bank has been closely involved since 2007 has finally come to fruition. repss is expected to stimulate intra - regional trade. i sincerely hope that it will live up to expectations, and stakeholders and commercial banks will make full use of this system. • our financial system continues to grow steadily, with total banking assets ( segment a ) representing 107. 7 per cent of gdp at end - june 2012. on 6 september 2012, we granted our 21st banking licence. this new addition to our financial landscape demonstrates the continuing interest of new operators in our banking sector. • in june 2012, we set up a task force on unfair terms to look into the terms and conditions of financial contracts. we hope to come up with a public consultation document by the end of the year. we are working simultaneously on the simplification of loan agreements. these initiatives of the bank aim at improving the efficiency of financial services. • i have on various occasions expressed my concern over the declining saving rate in the country. in an attempt to address the issue, the bank proposes to provide the public with a new asset class in which to invest. the gold bar project, as the initiative has been named, aims at broadening the range of savings products available to the public while promoting a savings culture. as from november 2012, the bank will be offering for sale a range of minted gold bars of 10g, 50g and 100g, with or without storage in the bank ’ s vault. the selling price of these gold bars will be set as close as possible to the price of gold on the international market. investing in these gold bars would be an excellent hedge against inflation. • in recent years, financial stability has moved to the

, and through the continuous improvement of basic public services. common prosperity is ultimately for all the people. we should always follow the people - centered development philosophy, uphold the principle that development is for the people and by the people and that its fruits are to be shared by the people, so as to realize common prosperity for all. the pathway to common prosperity is persistent endeavor. happy life comes from hard work and common prosperity depends on diligence and wisdom. it is an arduous, complicated and long - term task, so we need to do our best with patience and perseverance. common prosperity has distinctive features of the times and is of chinese characteristics. our people will work hard and help each other for the common goals of living a prosperous life, becoming self - confident and self - reliant, having a pleasant environment, securing social harmony and easy access to public services. all - round development will be achieved for the people and in the society. people will share the fruits of reform and development and the overall social progress. 2. issues of great concerns for inclusive finance in boosting common prosperity in recent years, implementing the decisions and arrangements of the cpc central committee and the state council on developing inclusive finance, the financial sector and the other sectors 1 / 4 bis central bankers'speeches of the society have put in place an inclusive financial service and security system which is appropriate for the building of a well - off society in an all - round way. in promoting common prosperity, inclusive finance needs to take its initiative. to meet the requirements of the strategic goals of and practical approaches to common prosperity, we still face many challenges in the high - quality development of inclusive finance, and thus need to make continuous improvements. first, how can inclusive finance better support the consolidation of poverty alleviation achievements and effectively prevent the return to poverty? in some areas, achievements of poverty alleviation are not solid enough ; industries and sustainable development have a weak basis ; the income of people lifted out of poverty is unstable ; and financial services are not effective, targeted or precise enough. the financial sector needs to play a bigger role in facilitating industrial development and fostering more forerunners in getting welloff. second, how can inclusive finance promote common prosperity through better integration with the rural revitalization strategy? in 2020, the national per capita disposable income of urban residents was rmb43, 834, while that of rural residents was rmb17, 131, indicating a significant gap between