亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线

--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar


Hot Links
China Development Gateway
Chinese Embassies

Manufacturers, Exporters, Wholesalers - Global trade starts here.

Central Bank: On Track for Exchange Reform

China's central bank chief told Xinhua News Agency on Saturday that the country is very much on track for exchange rate reform in response to the demand of the world's richest nations for a more flexible regime.

But Zhou Xiaochuan, governor of the , cautioned that reform will be carried out in a measured way to guarantee stability of the renminbi, China's currency.

In an exclusive interview, he said that China will stick to its long-term goal of convertibility under capital account.

To that end, the formulation mechanism of the exchange rate will be reformed and control over cross-border capital movement gradually relaxed. But he emphasized that the renmibi must be kept stable at a reasonable level, and potential risks fended off.

Currently the renminbi is pegged to the US dollar at a rate of about 8.27 per dollar.

Zhou said substantive progress has been made for a little over a year in preparing for exchange rate reform.

Efforts have been made to prepare commercial banks for a more flexible rate, foreign exchange controls relaxed, and the domestic foreign exchange market improved to familiarize financial institutions and businesses with an open foreign exchange market environment, said Zhou.

As for whether there is a timetable for reform, Zhou said its pace will be set in accordance with broader economic reforms.

The adjustment of the exchange rate mechanism depends on a stable macroeconomic environment, a healthy market scheme and a sound financial system, Zhou said.

He said that China has yet to draw up a suitable reform plan to keep the renminbi stable and has to take into account the impact of such a reform on the regional and global economy.

Zhou denied that the renminbi is significantly undervalued, arguing that the international trade balance has only a modest surplus.

In 2004, China had an estimated trade surplus of 20 billion dollars, representing less than 2 percent of its foreign trade total or its GDP, he said.

On foreign exchange reserves, Zhou said there are several factors behind their relatively rapid increase: a moderate current account surplus; the good performance of the economy attracting both foreign direct investment and reinvestment of foreign-funded companies; and a reversal in capital outflow trends.

"These were nothing but normal," he said.

In response to concerns that the possible appreciation of the renmibi might result in a mass inflow of 'hot' money, he said the problem should not be exaggerated because strict controls on capital accounts are being exercised.

Zhou arrived in London to attend the Group of Seven (G7) finance ministers' meeting.

He held talks with US Federal Reserve Chairman Alan Greenspan and US Treasury Under-secretary John Taylor as well as other G7 finance officials.

With Greenspan and Taylor, Zhou reaffirmed China's policy on reforming its exchange rate mechanism and briefed them on progress made in this endeavor.

The two American officials said they understood the Chinese stand and its cautiousness in reform, said Zhou.

(Xinhua News Agency February 7, 2005)

No Rush on RMB Reform
China to Urge G7 for Forex Stability
Renminbi Exchange Rate Kept Stable
Double-edged Sword of RMB Exchange Rate Stability
RMB Exchange Rate System to Be Improved
Central Bank Vows to Keep RMB Exchange Rate "Basically Stable"
G7 Calls for Stability in Exchange Rates
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
    1. <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>
      <thead id="556nl"></thead>

      1. <em id="556nl"><tt id="556nl"></tt></em>
        <ul id="556nl"><kbd id="556nl"><form id="556nl"></form></kbd></ul>

        <ul id="556nl"><small id="556nl"></small></ul>
        1. <thead id="556nl"></thead>

          亚洲人成网站18禁止中文字幕,国产毛片视频在线看,韩国18禁无码免费网站,国产一级无码视频,偷拍精品视频一区二区三区,国产亚洲成年网址在线观看,国产一区av在线 人妻无码久久影视 日韩久久久久久久久久久久 精品国产香蕉伊思人在线 无码国产手机在线a√片无灬 91在线视频无码