关于financial crisis

BEIJING, Sept. 24 -- Hot debates about the evolving, if not worsening, global financial crisis offer much needed food for thought as China's financial development enters a new era.

Explanations of the root cause of the current financial tsunami vary greatly, but few disagree on the need for China to further deepen financial reforms to sustain its long-term growth.

"Among all the financial crises, this may be the one that affects China most," Tang Shuangning, chairman of China Everbright Bank, told a financial forum in Beijing Tuesday.

With the world's largest foreign exchange reserve worth more than 1.8 trillion U.S. dollars, China is relatively well positioned to weather the financial crisis. But the impact it may exert upon the Chinese economy remains huge.

According to Tang, such negative consequences may include a crashing stock market, loss of overseas investment, declining exports, economic slowdown, rising