As the New Year's bell is about to ring, on behalf of the PBC Committee of the Communist Party of China (CPC), I would like to extend greetings to each and every staff member of the PBC system and express heartfelt gratitude for your devotion to the work in the past year. Meanwhile, I would like to send warm regards to the colleagues who will remain at their posts during the holiday and also to their family members!

In the year of 2012, the 18th National Congress of the Communist Party of China adopted the goal of building a moderately prosperous society by 2020. In line with the general principle of making progress while ensuring stability, the PBC placed greater priority on preserving stable growth, implemented a sound monetary policy, increased the strength of preemptive adjustment and fine-tuning, guided the appropriate growth of money and credit, and kept all-system financing aggregate at a reasonable volume, in order to earnestly support the development of real economy. The RMB exchange rate regime was further improved and the inter-bank bond market expanded rapidly. Financial institution reform and financial stability work made new progress. The cross-border RMB business made steady progress. The reform of foreign exchange management was deepened. International cooperation and financial cooperation with Hong Kong, Macau and Taiwan was advanced further. The quality of financial services and management was enhanced. And, efforts of building a clean government and developing human resources produced fresh results.

The year 2013, as the first year in fully implementing the spirits of the 18th National Congress of CPC, and a crucial year in implementing the 12th Five-Year Plan, will be an important period of time to lay a solid foundation for building a moderately prosperous society. In line with the spirits of the 18th National Congress of CPC and overall arrangements of the Central Economic Work Conference, the PBC system will continue to seek progress while ensuring stability, continue the sound monetary policy, and make the management policies well-targeted, more flexible and forward-looking. More efforts will be made to deepen the financial reform and opening-up, accelerate the development of financial markets, improve foreign exchange management, enhance the quality of financial services and management, effectively prevent systemic financial risks, keep the overall price level generally stable, and promote quality and relatively fast growth of the economy.

I wish you all happiness, peace and good health in the New Year!



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