On Wednesday, 30 June 2004 Governor of the People's Bank of China Zhou Xiaochuan and his associates visited the Croatian National Bank. On that occasion Deputy Governor Dr Boris Vujčić and Vicegovernors Čedo Maletić and Adolf Matejka informed the esteemed guests about economic developments in Croatia and activities of the Croatian National Bank.
Although China differs from Croatia in many ways - beginning with the number of inhabitants reaching nearly 1.3 billion, economic and financial tradition and structure, central bank with nearly 120,000 employees and about 2,000 branch offices - the representatives of the People's Bank of China showed high interest in Croatian experience with the development of the financial system, bank rehabilitation, privatisation and banking supervision, as well as with the establishment of convertibility of the national currency and liberalization of capital transactions.
Chinese guests were further interested in the manner in which the Croatian central bank maintains its exchange rate regime, the so called managed float. Also, they showed interest in the influence of high capital inflows on conduct of exchange rate and monetary policy.
