China has multiple plans to prepare itself for further negative impact of the global financial crisis, said Zhou Xiaochuan, governor of China's central bank, Friday.
China's long-held policy of keeping the Renminbi exchange rate "basically stable at an appropriate and balanced level" is "relatively comprehensive and enough", Zhou told a press conference on the sidelines of the parliament annual session.
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Zhou Xiaochuan, governor of the People's Bank of China, answers a question during a press conference on dealing with the global financial crisis and maintaining steady and relatively rapid economic growth held by the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 6, 2009.
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The currency policy, which was also reaffirmed by Premier Wen Jiabao in a government work report to the parliament session on Thursday, "needs no changes," said Zhou.
Answering a question on whether China can rule out the possibility of depreciating the yuan to support economic growth, he said, "The question should be raised to some countries where the financial crisis originated from: what's going to happen eventually on your side?"
"We have to make multiple plans and analyze various scenarios since there is obviously great uncertainty on their side," he said, adding that the government won't disclose its intention until the picture gets clear.
In reply to a question whether China will make more investment in addition to its 4-trillion-yuan (585 billion U.S. dollars) stimulus package, Zhang Ping, the country's chief economic planner, said that will depends on how the situation develops in the face of the financial crisis.
