World stocks have recovered some of the ground lost in the drastic sell-off of global equities that began February 27 when China's Shanghai Composite, the country's main stock index, plunged nearly 9 percent.
"I personally believe that there are no problems at the macroeconomic level and stock market price fluctuations will not lead to any substantial change in trends," Zhou Xiaochuan told a press conference on China's monetary policy.
At the same time, Xiaochuan declined to answer directly whether the global sell-off was triggered by a sharp fall in China's stocks.
"Initially China believed that its share market was comparatively small and at a nascent stage in its development. But economic globalization has created a close relationship between fluctuations on various stocks markets. This is a testament that we must accelerate the development of China's market," the chief banker said.
Xiaochuan also said China should make more effort to better integrate its capital market into the global system.
