The People’s Bank of China released a statement on Saturday morning in response to the passage of the U.S. financial rescue package. Part of the statement translation by The Wall Street Journal: The Chinese government has been closely following the development and consequences of the U.S. financial crisis. Recently, the U.S. government’s Emergency Economic Stabilization Act of 2008 has become a focus of world attention. The People’s Bank of China will make financial and economic policies more predictable, targeted and flexible in order to maintain financial market stability and the sound and rapid development of the economy. The People’s Bank of China and relevant regulatory authorities have already drawn up plans to avoid and reduce the impact of the U.S. financial crisis on China.
