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

US EUROPE AFRICA ASIA 中文
Business / Markets

US Treasury softens stance on China's exchange rate policy

(Xinhua) Updated: 2015-10-21 10:00

WASHINGTON - The US Treasury Department on Monday softened its stance on China's exchange rate policy as China had allowed market forces to play a greater role in setting the currency's exchange rate.

In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, the Treasury dropped its previous assessment that Chinese currency yuan, also known as the renminbi, was "significant undervalued." Instead, the Treasury said the renminbi "remains below its appropriate medium-term valuation".

Washington's shift tone comes after China's central bank announced on Aug 11 to improve its central parity system, which is the starting point for daily forex trading, to better reflect market development in the exchange rate between the Chinese yuan against the US dollar.

"The Treasury is carefully monitoring the implementation of the new exchange rate policy approach and how it will work in practice,specifically, whether China will allow the renminbi to respond to market forces for appreciation as well as for depreciation," the report said.

The International Monetary Fund (IMF) has welcomed China's move to improve its exchange rate formation mechanism, saying that a more market-oriented exchange rate would facilitate the SDR (special drawing rights) operation if the renminbi was included in the basket, which currently includes the US dollar, Japanese yen, British pound and the euro.

Earlier this year, the IMF said the substantial real effective appreciation of the renminbi has brought the exchange rate to a level that is "no longer undervalued".

The Treasury also acknowledged that China's real effective exchange rate (REER) has appreciated by 3.6 percent in the year-to-date through September, despite the renminbi depreciated 2.3 percent against the dollar between Aug 11 and Sept 30. Since June 2010, the renminbi has appreciated nearly 30 percent, the report said.

While the near-term trajectory of the renminbi is difficult to assess "given economic uncertainties, volatile capital flows, and prospects for slower growth in China", the Treasury believed the fundamental factors for renminbi appreciation remain intact, including "strong external balances which include a sizeable and growing current account surplus, sharply improved terms of trade, and ongoing net inflows of foreign direct investment".

The Treasury welcomed China to subscribe to the IMF's Special Data Dissemination Standard (SDDS) in October as "a much-needed step" toward increasing the transparency of China's foreign exchange reserves and exchange rate policy.

China has also begun to report its foreign reserve portfolio to the IMF by participating in the currency composition of official foreign exchange reserves (COFER) survey, another effort to improve its data disclosure transparency, the IMF said last month.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 亚洲欧美日韩精品久久亚洲区色播 | 欧美日本一区二区三区生 | 久久免视频 | 欧美黄www免费 | 精品日韩欧美一区二区三区在线播放 | 手机看片日韩高清国产欧美 | 欧美日韩视频一区三区二区 | 欧美日韩一区二区三区免费不卡 | 91精品久久久久 | 国产欧美日韩精品第二区 | 精品久久久久久国产免费了 | 狠狠色丁香九九婷婷综合五月 | 欧美色综合高清视频在线 | 亚洲精品91香蕉综合区 | 亚洲欧美日韩国产精品久久 | 国产三级手机在线 | 福利视频美女国产精品 | 成人午夜视频在线观看 | 九九视频在线观看视频23 | 久久久黄色大片 | 亚洲在线网址 | 欧美日本一区二区 | 国内精品久久久久久久久蜜桃 | 国产一区二区三区在线免费观看 | 99久久国产综合精品2020 | 国产精品96久久久久久久 | 国产真真人女人特级毛片 | 国产成年 | 欧美一级艳片视频免费观看 | 日本精品三级 | 午夜私人影院免费体验区 | 国产成人久久精品二区三区牛 | 国产原创一区二区 | 一区二区3区免费视频 | 亚欧在线一线 | 欧洲一级毛片免费 | 国产精品2020 | 96精品免费视频大全 | 国产成人精品免费视频大全五级 | 日本高清不卡中文字幕 | 亚洲久久成人 |