Former PBOC's governor on global economy

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Europe

03:29

Economy can be a dry subject, but during a trip to London, Zhou Xiaochuan, former governor of the People's Bank of China (PBOC), gave CGTN a hint of the drama and tension behind the scenes.

China-UK cooperation

“We have a very good economic and trade relationship, and we also have similar opinions,” Zhou said.

Based on his words, both China and the UK “think very carefully about WTO reform.” And the two countries are supporters of free trade and against protectionism. That is “comprehension of each other,” Zhou added.

He also expected China and the UK “together” to seek opportunities in other regions, such as the Middle East and North Africa.

Zhou Xiaochuan speaks during a press conference at the National People's Congress in Beijing, March 12, 2016. /VCG Photo

Meanwhile, Zhou shared his concern on Brexit. The Brexit uncertainty is a “serious challenge” to the financial sector, he observed.

“We have renminbi business in the London market. So the financial institutions try to figure out what is going to happen," Zhou added. "They try to follow the recent vote and try to figure out what kind of preparation needs to be done.”

China-U.S. trade outlook

“I believe that people can gradually realize that we rely on each other. We are on the same boat,” Zhou asserted, adding that “people need to learn how to compromise with each other, and to protect not only yourself but also the global economy.”