People's Bank of China Report

I want to thank Premier Monroe and President Jiang Zemin for the nomination to continue to lead the People's Bank of China. When I began my first appointment at the bank, conventional wisdom ruled the administration. Huadong and Xinan were shrinking by almost 2% annually. China's overall growth was barely keeping up with inflation. Conventional Wisdom was turned upside down with the wisdom of the cabinet and the NPC. We have successfully increased GDP growth to 5.3%, cut unemployment down to 6.2%, and decreased poverty to a historic 8.2%. As governor of Xibei we are seeing growth of 10% annually. We have proven that strong direction, sober policy, and strict execution are central to a prospering nation. While inflationary pressures have accumulated, the People's Bank believes this is a necessary short term hardship we must face while growing our economy and bettering our society. Thank you for your continued support and trust.