The period between 1993 and 2002 was a crucial part of China’s macroeconomic regulation and financial reform and opening-up. Throughout most of this phase, the author was involved in making major decisions on monetary policy, financial markets, regulation, reform and opening-up, and fulfilled his duties as a central bank leader. This paper is dedicated to the 60th anniversary of the founding of the People’s Republic of China. The period between 1993 and 2002 was a crucial part of China’s macroeconomic regulation and financial reform and opening-up. Throughout most of this phase, the author was involved in making major decisions on monetary policy, financial markets, regulation, reform and opening-up , and fulfilled his duties as a central bank leader. This paper is dedicated to the 60th anniversary of the founding of the People’s Republic of China.