{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Sapin, China central bank governor comments' data-url='/boclips/videos/5c54cacbd8eafeecae19eeb0' data-video-url='/boclips/videos/5c54cacbd8eafeecae19eeb0' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nSapin, China central bank governor comments\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eGlobal economic reforms topped the agenda at an international finance forum in Paris on Thursday.The meeting was attended by high-level finance chiefs from Europe and included the managing director of the International Monetary Fund,...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eGlobal economic reforms topped the agenda at an international finance forum in Paris on Thursday.The meeting was attended by high-level finance chiefs from Europe and included the managing director of the International Monetary Fund, Christine Lagarde, and the Chinese central bank governor Zhou Xiaochuan.Addressing reporters after the meeting,  Zhou said the Special Drawing Rights, an IMF international reserve asset \"could be a stabilising force in the international monetary system.\" Lagarde urged China to be clear about its foreign exchange policies because of its weight in the world economy.Global economic reforms topped the agenda at an international finance forum in Paris on Thursday.The meeting was attended by high-level finance chiefs from Europe and included the managing director of the International Monetary Fund, Christine Lagarde, and the Chinese central bank governor Zhou Xiaochuan.Addressing reporters after the meeting,  Zhou said the Special Drawing Rights, an IMF international reserve asset \"could be a stabilising force in the international monetary system.\" Lagarde urged China to be clear about its foreign exchange policies because of its weight in the world economy.Paris - 31 March 20161. Pan of participants posing for photograph2. Mid of People's Bank of China Governor Zhou Xiaochuan3. International Monetary Fund (IMF) Managing Director Christine Lagarde (centre), French Finance Minister Michel Sapin (first from left) and UK Chancellor of the Exchequer, George Osborne, (second from right) posing for photograph4. Zhou and Sapin shaking hands5. Lagarde6. Pan of meeting7. News conference8. SOUNDBITE (French) Michel Sapin, French Finance Minister:\"We still have to progress a lot in understanding the flow of international capital. The information is still too partial with the international financial system constantly evolving. The derivates, the non-banking finance, the famous shadow banking system is taking a more and more prominent role, we need to be able to monitor it closely, it's crucial.\" 9. Reporters10. SOUNDBITE (English) Zhou Xiaochuan, People's Bank of China Governor:\"I would like to say that SDR (Special Drawing Rights, an international reserve asset) could be a stabilising force in the international monetary system and its broader use may not be that difficult. Starting with a concrete step today could lead to real progress tomorrow. For example, there are merits in using SDR as a reporting currency, the developing SDR denominated asset market, China will soon start reporting our banking sector foreign assets including foreign exchange reserve (inaudible) US dollar and SDR.  And look into the way for issuance of SDR denominated bond in China.\"  11. Lagarde listening12. SOUNDBITE (English) Christine Lagarde, IMF managing director:\"But I think the point made by Governor Zhou was that the SDR could certainly be used when Central Banks or other authorities report collectively on for instance their foreign reserves. It doesn't necessarily have to be reported in US dollars or other currencies. And to have it reported in SDRs give a broader spectrum, if you will, as well as a degree of hedging that can prove useful. The second avenue where you can actually dream, I am not suggesting that this is underway but why not have certain transactions issued in SDRs because the hedging element that is embedded in an instrument that relies on five different currencies can actually be of some use. So why not?\"13. News conference14. SOUNDBITE (English) Christine Lagarde, IMF managing director:\"The issue that was debated, why is it that the flexible credit line and the Precautionary and the Liquidity Lines have not been endorsed more broadly other than for the four countries that are using them at the moment. And it's one of the issues that together with the executive board of the IMF and with the whole membership, the 188 members we are going to have to tackle. Should it be associated with some pre-qualification? Should the access be slightly different? What improvements can we make to those FCLs (Flexible Credit Lines), PLL (Precautionary and Liquidity Lines) and should we invent something different and new given the circumstances. This is exactly what we will be working on with the board and with the entire membership. Because it's there, it's precautionary and it's helpful.\"15. 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