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
       
 

Banker: China doing its best on flexible yuan
(Bloomberg)
Updated: 2006-03-19 09:27

China is doing its best to move toward a freely traded currency, a central bank official said, appealing for understanding from two U.S. senators who are threatening trade sanctions unless the yuan's value rises.


Wu Xiaoling, vice governor of the People's Bank of China [newsphoto/file]
``They should understand that China is doing its best,'' Wu Xiaoling, vice governor of the People's Bank of China, told reporters in Beijing Saturday ahead of next week's visit by senators Lindsey Graham and Charles Schumer. ``China's economic restructuring needs a process.''

Graham, a Republican from South Carolina, and Schumer, a Democrat from New York, are sponsoring legislation that would impose tariffs on Chinese imports unless the yuan is allowed to strengthen. The senators will meet Chinese officials in Beijing and Shanghai before deciding whether to proceed with a vote on their bill by March 31.

The yuan this week had its biggest weekly gain against the dollar since the government scrapped a decade-old peg in July, after Premier Wen Jiabao promised more flexibility. China is under pressure to let the yuan trade more freely before the U.S. Treasury's semiannual report on global currency manipulation and President Hu Jintao's visit to the U.S. next month.

The yuan's ``flexibility is increasing gradually,'' Wu said in a speech to a banking conference today. The central bank will improve the exchange-rate mechanism `` actively and progressively'' and ``allow market supply and demand to play a fundamental role in forming the exchange rate.''

Wen's Pledge

U.S. lawmakers and manufacturers accuse China of keeping the yuan's value artificially low to spur exports. China's trade surplus tripled to a record $102 billion last year, helping to drive economic growth of 9.9 percent, the fastest among the world's major economies.

`A flexible exchange rate will help to improve the international balance of payments, but large-scale fluctuations will harm the stable development of the economy,'' Wu said. She said the central bank isn't concerned about U.S. pressure for faster progress toward a freely traded currency.

China on July 21 reset the yuan's value at 8.11 to the dollar, a 2.1 percent appreciation from the pegged level where it had been held since 1995, and linked its value to a basket of currencies including the euro and yen. Under the system, the yuan is allowed to rise or fall 0.3 percent against the dollar either side of a daily rate announced by the central bank.

Trading Band

The yuan, a denomination of China's currency, the renminbi, rose 0.1 percent to 8.0313 against the dollar at 3:30 p.m. in Shanghai Friday, bringing its gain for the week to 0.2 percent, according to data compiled by Bloomberg. It has gained almost 1 percent since the revaluation.

The yuan's daily fluctuation exceeded 0.1 percent for the first time on March 15, a day after Premier Wen said China will ``add more flexibility to the exchange rate's trading band.''

Wu said the central bank is studying introducing interest- rate futures and more foreign-exchange derivatives to give companies and financial institutions tools to hedge against a more volatile exchange rate.

The central bank will also ``release reasonable demand'' in the foreign-exchange market while ``controlling abnormal foreign- exchange supply,'' she said.
Page: 12



Fire kills 5 in Northeast China
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top China News
 

Australia, US, Japan praise China for Asia engagement

 

   
 

Banker: China doing its best on flexible yuan

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Coal output set to reach record high

 

   
 

Milosevic buried after emotional farewell

 

   
 

Anti-war protesters rally around world

 

   
  EU likely to impose tax on imports of Chinese shoes
   
  Bankers confident about future growth
   
  Curtain to be raised on Year of Russia
   
  Coal output set to reach record high of 2.5b tons
   
  WTO: China should reconsider currency plan
   
  China: Military buildup 'transparent'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 国产一级特黄一级毛片 | 好湿好紧好痛a级是免费视频 | 久久综合综合久久 | 欧美一级录像 | 国产91香蕉在线精品 | 欧美精品伊人久久 | 99热播| 免费女人18毛片a级毛片视频 | 免费午夜不卡毛片 | 制服诱惑中文字幕 | 国产网红自拍 | 欧美一区二区三区在线播放 | 国产呦在线观看视频 | 91免费国产精品 | 国产成人精品日本亚洲专区6 | 亚洲高清视频在线播放 | 国产精品久久国产三级国不卡顿 | 乱码一区 | 日本天堂网在线 | 欧美成人怡红院在线观看 | 五月色婷婷琪琪综合伊人 | 久久羞羞| 成年美女黄网站色视频大全免费 | 国产大乳孕妇喷奶水在线观看 | 精品久久网站 | 精品日韩二区三区精品视频 | 一个人的视频日本免费 | 日日噜噜噜夜夜爽爽狠狠69 | 91高清免费国产自产 | 亚洲综合精品一二三区在线 | 国产精品国产精品 | 美女张开双腿让男人桶视频免费 | 国产成人一区二区 | 亚洲精品一区二区久久这里 | 国产免费一级高清淫曰本片 | 国产一区高清 | 欧美在线一级毛片视频 | 美女的让男人桶到爽软件 | 亚洲精品中文字幕字幕 | 亚洲欧美视频一区二区三区 | 国产普通话一二三道 |