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

  Home>News Center>China
       
 

Rate measures to help banks reduce risks
By Zhang Dingmin (China Daily)
Updated: 2005-09-26 05:29

The latest adjustments to China's exchange rate system announced on Friday will give banks more pricing flexibility and help reduce speculation in the marketplace, the central bank said yesterday.

Rate measures to help banks reduce risks
People's Bank of China Governor Zhou Xiaochuan (L) and Finance Minister Jin Renqing attend the annual meeting of the World Bank and International Monetary Fund in Washington September 24, 2005. [Xinhua]
The measures, following the nation's reform move on July 21 to adopt a managed floating exchange rate system with reference to a currency basket, "will serve to further increase the banks' capability in setting prices and effectively controlling price risks, foster fair and orderly competition among the banks and improve financial services," a spokesman with the People's Bank of China said yesterday.

Last Friday, the band of renminbi exchange rate against non-US dollar currencies in the spot foreign exchange market was widened from 1.5 per cent to 3 per cent around the central parity, which the central bank said will help commercial banks avoid losses that might happen under previous arrangements.

But the central bank kept the floating band for renminbi against the US dollar unchanged, saying it reflects the high liquidity of the currency, in which 80 per cent of China's foreign trade transactions are settled.

Commercial banks were also given a broader range between their buying and selling rates for the US dollar when trading with clients, which the central bank said will increase the trading costs for speculators and therefore help maintain the stability of the market.

The measures will promote the effective adjustment of the renminbi exchange rate based on market supply and demand with reference to a basket of currencies, and strengthen the fundamental role of the market in price finding and risk aversion, the central bank said.

"Appropriate enlargement of the spread between the selling and buying prices of the US dollar quoted by the banks to their customers may increase the transaction cost of the speculators, thus helping maintain the basic stability of the renminbi exchange rate," the spokesman added.

On July 21, China allowed its currency, known as the yuan or renminbi, to appreciate by 2.1 per cent against the US dollar and started linking its currency to a basket of foreign currencies instead of the US dollar only.

Under that system, the yuan was allowed to rise or fall 0.3 per cent against the dollar and a wider 1.5 per cent against non-dollar currencies, such as the yen and the euro, in the interbank market.

   上一頁 1 2 下一頁  



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

 

   
 

Hopes high for oil pipeline deal

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Milosevic buried after emotional farewell

 

   
 

China considers trade contracts in India

 

   
  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: 91精品国产91久久久久久 | 香港经典毛片a免费观看 | 成人午夜视频在线观看 | 亚洲国产福利精品一区二区 | 精品国产看高清国产毛片 | 国产日韩精品一区二区三区 | 国产精品在线播放 | 久久黄色一级视频 | 久草网视频在线 | 久久久久久久99精品免费观看 | 欧美一区二区在线观看视频 | 一区二区3区免费视频 | 波多野结衣免费免费视频一区 | 大片国产片日本观看免费视频 | 特级毛片免费观看视频 | 国产黄三级三·级三级 | 亚洲天堂久久久 | 国产一区精品在线观看 | 国产精品亚洲欧美 | 久久国产精品免费观看 | 性欧美在线 | 日韩专区亚洲国产精品 | 精品在线视频免费观看 | 成人免费国产欧美日韩你懂的 | 成年人在线观看视频网站 | 精品国产综合区久久久久99 | 欧美在线小视频 | 男女男在线精品网站免费观看 | 中文字幕久久亚洲一区 | 亚洲美女中文字幕 | 一级毛片一级毛片a毛片欧美 | 曰韩美女一级视频 | 中文字幕一二三区 | 国产一二三区在线 | 久久综合亚洲一区二区三区 | 久久观看午夜精品 | 午夜在线亚洲 | 国产在线91区精品 | 222aaa免费国产在线观看 | 日韩 欧美 自拍 在线 视频 | 欧美日韩一区二区三区免费 |