久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

Central bank: Yuan rates already market regulating
(chinadaily.com.cn)
Updated: 2005-07-31 09:58

The People's Bank of China, the central bank, said the yuan exchange rate is now made floating according to market forces, ruling out any more government-decreed revaluation of its currency, also called Renminbi.


A man looks at an electronic board that show latest foreign exchange rate at a Bank of China branch in Wuxi, East China's Jiangsu Province July 25, 2005. [newsphoto]

Since its 2.1 per cent appreciation of the yuan announced on July 21, there are growing expectations in the Western world that further revaluations will follow, triggering increasing speculative fund inflows. Some critics in Washington have also called for a much more substantial rise of the Renminbi against the US dollar.

"Some foreign people have tried to create misunderstanding by saying the adjustment is an initial move and there will be more to come," the bank said in a statement, adding that such foreigners had come up with such explanation "to suit their own purposes". In fact, the bank said, the renminbi rate was being set "according to objective rules".

"These movements will be created by the floating mechanism and there will be no more official adjustments of the renminbi level," it said.

The central bank said that in trading since revaluation, the yuan had been reflecting market forces and movements in international currency exchange rates.

Renminbi non-deliverable forwards, an off-shore instrument used to bet on the Chinese currency, suggest investors expect significant further appreciation of the renminbi over the next 12 months, the Financial Times reported.

The newspaper quoted Professor Michael Pettis of the Guanghua School of Management at Peking University as saying market expectations might be difficult to change, since pressure for revaluation had largely been driven by trade imbalances and money supply concerns.

The central bank's new regime for rates formulation - a "managed float" based on "market supply and demand with reference to a basket of currencies" - means that the bank's claim that yuan rates will reflect market movements must be taken on trust, the paper said.

Some analysts say the lack of clarity, including the details of the said basket of currencies, is intentional, aimed at giving the bank more flexibility in setting its new renminbi policy.

Earlier last week, Li Deshui, commissioner of the National Bureau of Statistics who also sits at the central bank's policy research and making commission, told reporters that the capital account won't be let open to market speculation funds, and the yuan won't become fully convertible in at least five years.



Measures taken to ensure pork security
Armed police training
Anti-terror drill in Nanjing
  Today's Top News     Top China News
 

Central bank: Yuan rates already market regulating

 

   
 

Nuclear talks enter uncharted territory

 

   
 

US$6b deal for 50 Boeing jets in sight

 

   
 

Pig disease found in five more cities

 

   
 

Japan's UN comment has "ulterior motives"

 

   
 

Astronauts test repairs; mission extended

 

   
  China educates farmers on pig-borne disease
   
  Action plan to guarantee food safety
   
  Medical reform "basically unsuccessful"
   
  Nation opposes passage of US bill
   
  Farmers rights focus of legal clarification
   
  China to forge security co-op in Asia-Pacific region
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 免费一级毛片私人影院a行 免费一级毛片无毒不卡 | 国产一区二区播放 | 精品在线观看国产 | 欧美成免费 | 色噜噜国产精品视频一区二区 | 亚洲骚片 | 成人高清 | 萌白酱粉嫩jk福利在线观看 | 亚州视频在线 | 欧美综合自拍亚洲综合百度 | 日本三级在线观看中文字 | 久久免费视频99 | 日韩啪| 久久伊人热 | 精品国产免费人成在线观看 | 欧美在线区 | 手机看片日韩日韩国产在线看 | 99国产精品欧美久久久久久影院 | 免费在线观看黄色毛片 | 精品呦女 | 亚洲无吗视频 | 中文字幕 亚洲 一区二区三区 | 日韩一级片在线免费观看 | 日本加勒比视频 | 亚洲精品一区二区三区在线看 | 国产成人最新毛片基地 | 国产亚洲精品一区999 | 欧美在线一区二区三区不卡 | 特黄视频 | 中国美女一级片 | 最新欧美一级视频 | 日韩亚洲欧美理论片 | 精品国产三级a∨在线 | 欧美成人高清在线视频大全 | 亚洲羞羞视频 | 久久综合久久88 | 亚洲高清国产一区二区三区 | 曰本人做爰大片免费观看一 | 国产精品yjizz视频网一二区 | 久久久免费精品视频 | 国产精品亚洲片夜色在线 |