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: 一级毛片成人免费看a | 中文字幕一区在线观看 | 亚洲乱码国产一区网址 | 久久久影院亚洲精品 | 日韩欧美一区二区三区不卡视频 | 亚洲精品区一区二区三区四 | 亚洲成人自拍网 | 日韩成人在线视频 | 韩国精品一区二区三区四区五区 | 久久久久久福利 | 奇米色88欧美一区二区 | 日产乱码精品一二三区 | 久久久国产一区二区三区丝袜 | 大量愉拍情侣在线视频 | 亚洲国产综合人成综合网站00 | 福利片成人午夜在线 | 亚洲 欧美 激情 另类 自拍 | 亚洲小视频 | 亚洲欧美日韩另类在线 | 免费网站看v片在线香蕉 | 国产免费一区二区三区在线观看 | 99视频在线看观免费 | 免费国产成人手机在线观看 | 国产一级特黄一级毛片 | 中国一级片免费看 | 一级毛片免费不卡夜夜欢 | 国产成人精品曰本亚洲 | 免费视频 久久久 | 婷婷色综合久久五月亚洲 | 国产日韩一区二区三区在线播放 | 欧美一级毛片高清毛片 | 337p粉嫩日本亚洲大胆艺术照 | 黄色毛片视频网站 | 美国一级毛片片aa成人 | 99久久精彩视频 | 日本一级特黄大一片免 | 亚洲 欧美 日韩在线 | 成人福利网站含羞草 | 亚洲欧美日韩精品在线 | 日韩美女在线视频 | 色偷偷在线刺激免费视频 |