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

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 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.

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.

I always think that reforms and turning China into a free country is a long and tortuous process. Despite this, in a totalitarian state, the fight for freedom comes from the accumulative efforts of the people; without such efforts, very little will happen.