Zhou Xiaochuan, governor of the People's Bank of China, said Monday that China welcomes the International Monetary Fund (IMF) to continue its constructive role of policy consultant and technology provider in the country's ongoing economic reforms.

Zhou made the remark at a welcome luncheon for visiting IMF Managing Director Horst Kohler.

The IMF is one of the three most important international economic organizations, and is playing an increasingly significant role in maintaining the stability of the international financial system, promoting the balanced growth of international trade and boosting the ordered flow of capital within the international community, Zhou said.

"China's economy still faces various new challenges in the new century," Zhou said, pledging that the country would continue its reform and opening-up policies.

It was Kohler's fourth China visit since he was elected IMF's managing director, which clearly demonstrated the strengthened cooperation between China and the institution, Zhou stressed.

China has maintained good cooperative relations with the IMF after the country resumed its legal position in the IMF in 1980, Zhou said.

China always actively participates with the IMF in various projects and shoulders relevant responsibilities, and China would continue supporting IMF preferential loan projects to underdeveloped countries, the central bank governor said.

(Xinhua News Agency September 2, 2003)