Chinese economic lawmakers have made plans to stabilize country's financial and economy market on Thursday.
It was reported that officials describe how they would use the country's deficit spending for growth. They have said that they already spoke to leaders of world's biggest institutional investments and banks.
A senior Chinese central banker has firmly pledge that they will preserve the Chinese renminbi. One of the strategies is by tying its value to different currencies, too.
"Chinese policy makers realized they had made a serious mistake by staying silent as slowing growth, stumbles in the stock market and a fluctuating currency undermined the world's perception of China's economic stability. Their silence has been widely construed as either a reluctance to acknowledge difficulties or a lack of solutions," the chief executive and president of the Institute of International Finance, Timothy Adams said.
"Either they communicate with the markets in a timely and intelligent fashion, or the markets are going to write their own story line," said Adams.
According to a report, during the annual conference of the Institute of International Finance this weekend, central bank governors and finance ministers all over the world are coming to Shanghai to attend the event. Meanwhile, Chinese officials are also preparing to meet with them and discuss the policies they have came up.
The Chinese officials have better knowledge as to what the country is currently facing but they still believe that the policies they offer and made can definitely respond to the situation.
However, due to the China's current financial situation, investors all over the world may still not invest even though there are policies that the Chinese lawmakers have made.
