Chinese central bank governor Zhou Xiaochuan said on Monday that market-oriented reform should be given priority when drawing up currency policies.

"Only by pushing forward the market-oriented reform can the central bank deal with a possible financial crisis," said Zhou, adding that the reform was the basis of a stable currency, low inflation and an efficient currency system.

The official said the goal of the central bank's currency policy was not simply to avoid inflation and realize a stable currency, but also to achieve economic growth, employment and balance international payments.

Market-oriented reform is directly related to stabilizing the value of the Renminbi and therefore the pushing forward of financial reform should be given priority, said Zhou.