At the same time, policy makers need to strike a balance between growth, restructuring and managing risks to the economy.
"While the reform direction is clear, managing the reform pace will need windows (of opportunity) and conditions...The pace will vary, but the reform will be set to continue and the direction is not changed," Zhou said in English.
Global financial policymakers gathered in Shanghai are watching closely for signs that China is ready to tackle economic imbalances they see standing in the way of getting China's economy onto more sustainable footing.
Speaking at the opening of the G20 meeting, International Monetary Fund chief Christine Lagarde said China faces an "overwhelming" agenda of structural reforms, reinforcing the large task ahead as its leaders seek to open up the financial sector and move the economy away from debt-fueled investment.
Chinese Finance Minister Lou Jiwei also called for G20 countries to work together more on economic policy and to further reduce barriers to cross-border trade and business.
The world's financial leaders meeting in Shanghai will discuss ways to calm global markets and spur economic growth, and are likely to declare their readiness to take action if conditions worsen.
China's central bank reiterated assurances made on Thursday that it will not use currency depreciation to boost exports, and that it intends to keep the yuan basically stable against a basket of currencies.
The statement followed an admonition from U.S. Treasury Secretary Jack Lew in an interview with the Wall Street Journal to refrain from another sharp devaluation to the exchange rate like the one engineered in August.
Lew also called on China to communicate its policy intentions "clearly publicly or it will be interpreted for you".