economy the pboc is both a financial regulator and a supervisory authority of the macro economy. focused on the primary mandate of serving high - quality development, we will intensify the counter - cyclical adjustments of monetary policies and macro - prudential policies, and enhance the precision and effectiveness of financial support policies, so as to create a sound monetary and financial environment for the stable growth and structural adjustments of the economy. we will steadily advance the financial openingup at a high level and strike the right balance of the economy. first, we will further improve the monetary policy framework. i elaborated on the framework in lujiazui forum in june. today, i would like to emphasize the following points. in terms of policy objectives, we will take reasonable prices rise as an important consideration, and give a bigger role to price - based policy tools, such as interest rate. in terms of policy implementation, we will enrich the monetary policy toolbox on an ongoing basis, make good use of structural monetary policy tools, and gradually increase transactions of government bonds in open market operations. the pboc and the ministry of finance ( mof ) have established a joint working group, and relevant institutional arrangements will be improved continuously. in terms of policy transmission, we will continue to enhance the transparency of monetary policies, improve the independent pricing capabilities of financial institutions, and heighten consistency with fiscal policies, industrial policies, and regulatory policies, in a bid to achieve a more efficient transmission of monetary policies. second, we will provide more adaptive and targeted financial services to support economic restructuring and rebalancing. we will further intensify the macro credit management, continue to promote technology finance, green finance, inclusive finance, old - age finance and digital finance, and step up efforts to provide prime financial services for major national strategies, key areas and weak links. we will continue to build a financial market that is well - regulated, transparent, open, dynamic and resilient, and support developing diversified financing channels. the high - quality development is inseparable from sci - tech innovation. modern sci - tech innovation projects are characterized by long investment cycle, huge investment, high risk and uncertainty. they call for diversified financial services. in particular, enterprises in seed stage and start - ups are highly reliant on equity financing. therefore, active private equity investments ( pes ) and venture capitals ( vcs ) are very important market participants. the pboc will strengthen communication and cooperation with relevant

su ning : spreading financial knowledge to the chinese people speech by mr su ning, deputy governor of the peoplea€™s bank of china, at the financial knowledge booklet release and donation ceremony, beijing, 18 january 2007. * * * deputy administrator wu shulin, deputy secretary general yang xinli, ladies and gentlemen, good morning. on behalf of the people's bank of china, i warmly welcome all of you to financial knowledge booklet release and donation ceremony. we would like to congratulate everyone who has been directly or indirectly involved in the writing and publishing of the book, and appreciate those who have contributed to the book's writing. leaders of the state council have always attached importance to education of the general public. premier wen jiabao has on many occasions expressed the hope that financial education should be enhanced and popularized, especially through publication of financial knowledge books for the general readership. the financial knowledge booklet, written by the central bank, is dedicated to spreading financial knowledge to the average people, to promoting their ability in managing financial affairs, and to contributing to a harmonious socialist society. finance is at the core of any modern economy. with the improvement of a socialist market economic system and deepening of open - up in china, financial activities have permeated social and economic activities. finance has become increasingly important in adjusting economic activities and in promoting social and economic development, and more closely connected with people's daily life. the public has gradually become consumers of financial products and services and thus become an extensive base for financial security and development. sound performance and healthy growth of the financial sector has a bearing on a country's economic security and social stability, and on the interests of average people. the public's financial knowledge and confidence in financial system is a decisive factor in sound performance and healthy growth of the sector. therefore, financial education to the public, spreading financial knowledge to them, and increasing people's ability in managing their own financials, is of great importance to promoting sound performance and development of financial sector, to safeguarding people's interests, and to building a harmonious socialist society. since reform and open - up, china's financial sector has made substantial progress, and subsequently the chinese people have come to know more about financial products and services. however, as financial education for the average people is still underdeveloped, their financial knowledge and ability to use financial services has lagged behind compared with the sector's development.