三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

  Home>News Center>China
       
 

Further appreciation of renminbi denied
(China Daily)
Updated: 2005-07-27 06:01

The central bank yesterday denied there would be further appreciation of the Chinese currency, saying last week's 2 per cent revaluation did not mean more adjustments.

The People's Bank of China (PBOC) also said that foreign media reports describing the long-awaited move as an "initial adjustment" to the exchange rate were incorrect.


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]

The 2 per cent appreciation refers to an adjustment at the beginning of reforms of renminbi, or the yuan's exchange rate determination mechanism, a PBOC spokesman said.

"It does not mean that there will be further revaluation (of the yuan) afterwards," he said.

It is an "important principle" of the yuan's reform to be conducted "step by step", which refers to the gradual process in the reform of the rate's determination mechanism, instead of its level, he stressed.

The spokesman said the 2 per cent appreciation level was calculated based "on a rational equilibrium".

The new level of 8.11 to the dollar, up from the virtually fixed rate near 8.28 that had held for the previous eight years, reflected the equilibrium level - the rate that balances supply and demand, driven by the fundamentals of the economy. The central bank said the size of the revaluation was based mainly on what was needed to adjust the trade surplus.

Some developed countries, including the United States, argued that the yuan was artificially low, giving Chinese exporters an "unfair" trade advantage.

Last week, China raised the value of the yuan and scrapped the currency's peg to the US dollar, swinging to "referring to" an unrevealed basket of currencies in setting the yuan's trading price.

The PBOC spokesman said a small number of overseas media have misunderstood China's exchange rate reform, especially the adjustment of the yuan's value against the dollar.

They even "wrongly" believe that the 2 per cent appreciation of the yuan is just an initial adjustment, "which will trigger expectations of further rate hikes," he said. The media should keep a "responsible" attitude towards their reports, he added.



Submarine drill in East China Sea
6-party talks start in Beijing
Surgery on tiger to remove tumor
  Today's Top News     Top China News
 

Positive signs on first day of nuke talks

 

   
 

Shuttle Discovery blasts into orbit

 

   
 

No drug for disease as death toll hits 24

 

   
 

Further appreciation of renminbi denied

 

   
 

Nuclear industry to seek foreign help

 

   
 

2,500 evacuated after quake kills one

 

   
  Unocal 'almost backed China bid'
   
  Negotiators to continue six-party talks Wednesday: spokesman
   
  Stronger RMB won't affect investment much
   
  Electronics giants may soon merge
   
  Agricultureex-model grapples for new 'spirit'
   
  Mainlandtravel made easier with new rules
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 最新更新国内自拍视频 | 国产99欧美精品久久精品久久 | 欧美特级毛片a够爽 | 亚洲欧美另类日本久久影院 | 色综合天天综合中文网 | 国产精品久久精品牛牛影视 | 真实国语对白视频播放 | 在线看日本a毛片 | 小毛片在线观看 | 欧美成人免费一级人片 | 国产精品乱码一区二区三区 | 国产黄色毛片视频 | 亚洲精品久久久久久动漫剧情 | 日韩永久在线观看免费视频 | 99re在线 | 亚洲 欧美 中文 日韩欧美 | 国产尤物精品视频 | 亚洲最大的黄色网址 | 黄站无毒不卡秒播网站免费观看 | 免费高清毛片 | 国产伦精品一区二区三区免费 | 亚洲国产精品乱码在线观看97 | 婷婷草| 亚洲欧美v视色一区二区 | 国产的大片免费看 | 欧美久久xxxxxx影院 | 夜婷婷| 伊人网亚洲 | 日韩国产精品99久久久久久 | 国产婷婷一区二区在线观看 | 国产91在线播放边 | 国产欧美日韩综合精品二区 | 久久成人国产 | 看真人视频a级毛片 | 国产日产高清欧美一区二区三区 | 欧美丰满丝袜videossex | 中文国产成人精品久久一 | 久久综合99 | 三级网站日本 | 久久在线国产 | 久草福利在线播放 |