State of the CBRC Chairman Liu Mingkang said that China should increase the intensity of open-market operations, prudent use of interest rates, exchange rates, deposit reserve ratio and other policy tools to adjust liquidity.

China Banking Regulatory Commission Chairman Liu Mingkang in the latest issue of "Qiushi" magazine made the remarks. His speech showed that the regulatory authorities in the current economic environment for several of monetary policy tools of choice.

Liu Mingkang, China's current excess liquidity there is a structural characteristic, through the implementation of tight monetary policy, improve the monetary and fiscal policies with the tools to adjust the way.

He said that open market operations is the market-oriented means of control can be achieved in the banking regulation of differentiation, and the intensity of the more soft and difficult to have a dramatic impact on the economy.

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In addition, Liu Mingkang said that to resolve the problem of excess liquidity also need to strictly control the total amount of credit and optimize the credit structure, strengthen foreign exchange management, and take effective measures to curb speculative foreign funds into the larger.

He also mentioned that the current urgent needs of the RMB exchange rate policy to study and grasp the direction of changes in exchange rate and rhythm, breaking the exchange rate appreciation of the continued unilateral expected.

Liu pointed out that since 2005 along with the acceleration of the appreciation of the renminbi rate, the appreciation has not diminished at all expected.

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