"The Chinese economy has shown signs of recovery on the whole, but we are still in a tough fight with the global financial crisis," said Zhou Xiaochuan, Governor of People's Bank of China (PBC) on April 18 in China's southernmost province of Hainan, according to Xinhua.

"The positive financial policy and the moderate monetary policy formulated in November last year have prevented China's economy from rapid slow-down," said Zhou at a breakout session of the 2009 Boao Forum for Asia. The topic of the sub-forum was "Reform the International Financial System: the Role of Emerging Markets".