(Yicai Global) July 18 -- China should deepen financial reforms and further open up its finance industry, the central bank said in a press briefing yesterday.

This means the Financial Stability Development Committee under China's cabinet, also known as the State Council, will need to fulfill its duties to enhance financial regulation and coordination.

The People's Bank of China also called for more efficient and effective financial services for the real economy, a prudent and neutral monetary policy, the optimization of the financial supply system, a more innovative finance market and faster growing inclusive finance. It also required that important financial institutions and infrastructures be systematically regulated to prevent and resolve financial crises and strengthen prudent macro management and countercyclical adjustments.