The year 2006...is also the last transition year after China's World Trade Organization entry for the domestic banking sector. Doing good work this year in banking supervision has special and important meaning.

China is facing three major problems with its foreign trade: the country's unbalanced trade; increased interest rates of world economies; and the surging prices of crude oil and other resources.

China will strengthen its clampdown on financial crimes including beefing up supervising and oversight systems and improving its legal system to prevent such violations. China has achieved big improvement on the issue last year.

With the grace period provided by China's WTO agreement approaching the end, the CBRC has - with the fostering of a strategic global vision - been actively pushing forward the opening up of the Chinese banking sector.

the story I delivered to the public in China and outside of China is a story of 'never again.'

We are working on a proposal how we can lift the cap. We will have future changes and the door will be open much wider.