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"Continuing the move toward a more market-based and transparent monetary policy framework is a key element in ensuring an orderly transition to an effective float, which may also require use of foreign exchange reserves to smooth excessive volatility," suggested the IMF, proving that China's foreign exchange reserves are sufficient.

"China will further ease market access, implement just and fair supervision, guarantee fair competition of different ownership subjects, and work to create an open, transparent, stable and expectable market and law environment for domestic and foreign enterprises as well as all kinds of talent."

"Chinese regulators have allowed multiple securities, asset management, insurance, and other financial firms from the United States, Europe, and Japan to convert existing minority positions in joint ventures with Chinese partners to majority foreign-owned firms and have licensed a number of new wholly foreign-owned financial firms," Lardy noted in an analysis.

"Colin taught us to value education and equity, honor, respect and philanthropy," said Arthur Dugoni, the former dean of the?dentistry school who appeared at the award ceremony. "Colin has made a difference to thousands of lives here and in China, and other places in the world."

"China welcomes the US-Afghan joint declaration and the signed agreement between the US and the Taliban. The Afghan parties and the US should work together to actively implement the agreement," he said.