www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Moves on yuan point to reform

By WANG YANFEI | China Daily | Updated: 2016-11-25 08:06

Moves on yuan point to reform

An employee counts yuan banknotes at a bank in Huaibei, Anhui province June 22, 2010. [Photo/Agencies]

The recent deprecation of the yuan reflects Beijing's move toward a free floating exchange rate system, after the central bank set the yuan reference rate on Thursday at record low level against the US dollar.

The People's Bank of China set the central parity rate of the yuan against the greenback at 6.9085 Wednesday, following 6.8904 the previous day, the lowest level since June 2008.

The yuan is allowed to rise or fall by 2 percent from the central parity rate in China's spot foreign exchange market.

The depreciation of the yuan is a result of a strong dollar supported by an interest rate hike next month that can be regarded as a "certain" move that is in line with market expectations, said Chen Fengying, a senior researcher with China Institutes of Contemporary International Relations.

Senior US Federal Reserve officials suggested an interest rate rise would come "relatively soon", according to minutes released on Wednesday from the Fed's meeting earlier this month.

With a strong dollar, the People's Bank of China has little incentive to intervene at a time when the central bank's reform toward a more marketized floating system would only continue after the yuan joined the reserve basket of the International Monetary Fund in October.

David Lipton, first deputy managing director of IMF, on Tuesday applauded China's efforts on yuan?exchange rate reform.

Goldman Sachs forecast the yuan-dollar exchange rate would hit 7.30 by the end of 2017, as China is on its bumpy road of economic recovery.

Looking ahead, neither the US interest rate would go up a large extent nor would the yuan see sustained depreciation, according to Zhao Xueqing, an economist with the Institute of International Finance under the Bank of China.

"The Fed is expected to raise the interest rate slowly, as president-elect Donald Trump's massive infrastructural construction plan will boost government investment," said Zhao.

In the meantime, the appetite to pass sizable tax cuts along with an equally strong appetite to keep on spending could add to upward pressure on US long-term interest rates, a report led by Lewis Alexander with Nomura Group said on Wednesday.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 亚洲视频 中文字幕 | 涩涩国产精品福利在线观看 | 另类欧美日韩 | 久久综久久美利坚合众国 | 视频一区色眯眯视频在线 | 成人国产在线24小时播放视频 | 日本一级高清不卡视频在线 | 免费人成观看在线网 | 久久女同互慰一区二区三区 | 手机国产精品一区二区 | 亚洲黄色成人 | 欧美激情国产一区在线不卡 | 日韩城人视频 | 国产区一区二区三区 | 国产激情久久久久久影院 | 深夜福利视频在线观看免费播放 | 男女午夜24式免费视频 | 国产短裙黑色丝袜在线观看下 | 欧美特级特黄a大片免费 | 久久99久久精品免费思思 | 日本视频在线观看不卡高清免费 | 成人毛片免费观看视频大全 | 日本国产免费一区不卡在线 | 亚洲第一网色综合久久 | 国内精品伊人久久 | 亚洲专区欧美专区 | 中文字幕免费在线视频 | 欧美aaa性bbb毛片 | 黄色毛片视频在线观看 | 99re66热这里只有精品免费观看 | 久久国产影视 | 黄 色 三 级 网站 | 日本道综合一本久久久88 | 欧美一级毛片免费观看视频 | 99久久精品国产9999高清 | 荡公乱妇蒂芙尼中文字幕 | 久久中文字幕日韩精品 | 亚洲日本高清影院毛片 | 美女wc | 中文字幕成人在线 | 在线中文 |