"We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control"
- Wu Yi
About this Quote
This quote by Wu Yi suggests that the Chinese government is preparing to reform the yuan's currency exchange rate system. Wu Yi stresses that in order for these reforms to be effective, the Chinese economic situation has to remain in excellent condition. Furthermore, Wu Yi recommends that the reforms should be done with limited control, implying that the Chinese government needs to be careful and accurate in their implementation of the reforms. This quote shows the Chinese government's dedication to financial reform as well as their wish to guarantee that the reforms are done in a manner in which is beneficial to the Chinese economy. Wu Yi's quote likewise recommends that the Chinese government is aware of the potential threats associated with financial reform as well as is taking actions to alleviate those dangers. Eventually, Wu Yi's quote shows the Chinese government's dedication to financial reform and also their desire to make sure that the reforms are carried out in a manner in which is advantageous to the Chinese economic situation.