LONDON (Reuters) - People's Bank of China Governor Zhou Xiaochuan said on Wednesday that he was confident China would enjoy steady growth and financial stability that would ensure market confidence in its currency.
Zhou said that China was in the process of liberalizing its capital markets, and that markets would determine the extent of the use of the yuan as an international currency, which is also known as the renminbi (RMB).
"Although we are faced with many challenges ... we have full confidence that we will maintain steady economic growth and financial stability," he said.
"We will provide a very solid foundation, a very good macro environment for RMB," he said.
Zhou was speaking in London at a conference to promote financial links between Britain and China.
(Reporting by David Milliken and Kylie MacLellan)
- Singapore International News