China economy improving,local gov't loans under control

On the sidelines of the 18th CPC National Congress, China's central bank governor Zhou Xiaochuan says that the country's economy is showing signs of improvement. He also says that monetary policy settings will ensure continuity and flexibility into 2013.

Meanwhile, Shang Fulin, chief of China's banking regulator, the CBRC, who is also in attendance at the National Congress, says risks posed by loans to local government financing vehicles are under control, with no real risk of widespread defaults on real estate loans.