1. Actively participate in the International Monetary Fund's assistance to relevant Asian countries. After the outbreak of the financial crisis from 65438 to 0997, the China government provided more than $4 billion in aid to Thailand and other countries through bilateral channels within the framework arranged by the International Monetary Fund. We have provided import and export credit and emergency free medicine assistance to Indonesia and other countries.

Second, the China government, with a highly responsible attitude, made a decision not to devalue the RMB from the overall situation of maintaining regional stability and development, and it was under great pressure and paid a great price. This move has played an important role in the financial and economic stability and development of Asia and even the world.

3. The China government has adopted the policy of expanding domestic demand and stimulating economic growth while insisting on not depreciating the RMB, which has maintained the healthy and stable growth of the domestic economy and played an important role in easing the economic tension and promoting the economic recovery in Asia.

4. China actively participates in and promotes regional and international financial cooperation in coordination with relevant parties. At the sixth informal meeting of APEC leaders, China put forward three propositions: strengthening international cooperation to stop the spread of the crisis; Reform and improve the international financial system; Respect the independent choice of relevant countries and regions to overcome the financial crisis.

Extended data

The trigger of financial crisis

First, the impact of hot money in the international financial market. At that time, about $7 trillion of international capital flowed around the world. Once international speculators find out which country or region is profitable, they will immediately attack the currency of that country or region through speculation to make huge profits in the short term.

Second, some Asian countries have improper foreign exchange policies. In order to attract foreign investment, they maintain a fixed exchange rate on the one hand and expand financial liberalization on the other, which provides opportunities for international speculators. For example, Thailand deregulated the capital market at 1992 before the financial system was straightened out, which made the short-term capital flow unimpeded and provided conditions for foreign speculators to speculate on the Thai baht.

Third, in order to maintain a fixed exchange rate system, these countries have used foreign exchange reserves for a long time to make up for their deficits, resulting in an increase in foreign debt.

People's Network-Successfully responded to two financial crises; China has its own characteristics.