Wen made the remarks when addressing the Asia-Pacific Economic Cooperation (APEC) Finance and Development Program 2002 Annual Forum.

Wen said that the forum, initiated by the Chinese government, is aimed at promoting the human capacity building among APEC economies, in particular the developing economies, in the financial sector. It is also meant to strengthen the institutional capacity for their better response to challenges of economic and financial globalization.

According to Wen, the world financial market sees rapid changes and increased uncertainty and risk. He urged all economies to formulate correct financial development strategy, improve modern financial system so as to ensure the financial security and the efficient and stable operation of the financial system.

He stressed that it is necessary to make greater efforts in financial professional training while improving financial legal system, reforming financial market and strengthening financial market supervision.

Wen said that the Chinese government has adopted a series of measures to train financial professionals by developing a financial education system, improving career education, bringing overseas financial talents into China's financial sector and strengthening international cooperation.

The annual forum, jointly sponsored by the Chinese government and the World Bank, will discuss around the theme of "improving financial intermediation for economic growth, development and stability."

During the one-day forum, delegates will exchange views on capital market development, finance for small- and medium-sized firms and cross-border finance and economic development.

(Xinhua News Agency May 26, 2002)