ent with the current state ofchina's economy， its level of financial regulation and the sustainability of its enterprises. on the basis of this system， keeping the exchange rate of rmb stable serveschina's economic performance and conforms to the requirements of the economic development in the asia-pacific region and the whole world. as you might recall， when the asian financial crisis struck in 1997， it ischinathat insisted on not depreciating its currency and responsibly maintained its exchange rate stability when many of its neighbors substantially devalued their currencies.chinamade its contribution to financial and economic stability inasiaand the world at large. we will follow the same approach of responsibility to the rmb exchange rate issue this time. we will maintain the basic stability of the rmb exchange rate at a reasonable and balanced level， while further improving the rate-forming mechanism amid deeper financial reform.
to achieve economic growth and better living standards is a goal shared by people of all lands. given current economic slowdown in the world， we should give a full scope to apec's role in encouraging all its members to bring about sustained economic development.
though apec members differ from one another in economic circumstances， they are all faced with a common task of economic restructuring. the prevailing economic situation in the region and the world at large makes the job particularly urgent and crucial. in recent year
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