Governor of China's People's Bank or Central Bank, Zhou Xiaochuan says China's fixed asset investment has slowed down and the total loans growth has bounced back to a reasonable level.

Zhou Xiaochun says this was due to the monetary measures the central government has taken to control the fast growth of the economy.

He made the remarks in Washington on macro control and RMB exchange rate.

On RMB exchange rate, Zhou Xiaochun says to improve the RMB exchange rate mechanism and keep it steady on a reasonable level is the direction and goal of reform in this field.

To achieve this goal, the government stressed to restructure the state-owned commercial banks and turn them into share-holding companies so that China's banking system adapts to foreign exchange market demand.

Zhou Xiaochuan says in the process of improving the RMB exchange rate mechanism, factors such as macro economic development, social development and regional and world economic situations should be considered.

(Photo Source: Xinhua)

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