Economy

China aims to make yuan convertible

(Xinhua)
Updated: 2010-07-31 09:33
Large Medium Small

BEIJING - The ultimate goal of China's exchange rate reform is to make the yuan a fully convertible currency, Yi Gang, head of the State Administration of Foreign Exchange (SAFE), said Friday.

Yi, also deputy governor of the People's Bank of China, the central bank, made the remarks in an interview with Caixin media's China Reform magazine, which is posted on the SAFE website.

"There is no official timetable for a convertible yuan," he said in the interview with the magazine's executive editor Hu Shuli.

The Chinese currency, or the RMB, still shoulders the pressure of appreciation albeit the pressure has eased, as the value of the currency drew close to the equilibrium level after adjustments in the past decade, Yi said.

There is no foundation for the yuan to move sharply, according to Yi.

China can maintain a flexible exchange rate and make the currency stand at a basically reasonable and balanced level, he said.

He added that since China is a large country and its development is unbalanced, the issue becomes more complicated.

"Generally speaking, a convertible currency is one whose exchange rate can float freely," he said.

Special Coverage:
China Advances Yuan Rate Reform 
Related readings:
China aims to make yuan convertible Rising yuan will not hurt trade, say bankers
China aims to make yuan convertible China's exchange rate reform on right track
China aims to make yuan convertible Respect development rights
China aims to make yuan convertible Yuan and absurdity of US demand
Asked whether the yuan may turn into a reserve currency, Yi said it depends upon the market demand.

"We should not push it hard. Do not be talked into the belief that the yuan is very close to a reserve currency. It, in fact, lags far behind that level," Yi said.

China abandoned a decade-old peg to the U.S. dollar five years ago by allowing its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.

Since then, the yuan has strengthened further, though slowly, and has risen more than 21 percent against the greenback.

On June 19 this year, the Chinese central bank announced that it would further the reform of the yuan exchange rate mechanism to improve its flexibility.

 

主站蜘蛛池模板: a级毛片高清免费视频| 亚洲三级视频在线观看| 色一情一乱一乱91av| 国产精品99久久免费| 99视频在线精品免费| 强3d不知火舞视频无掩挡网站 | 在线成年视频免费观看| 中文字幕av高清片| 日本在线视频www色| 五月婷婷激情网| 高清影院在线欧美人色| 男人女人真曰批视频大全免费观看| 国产精品免费一级在线观看| 99这里只有精品66视频| 性宝福精品导航| 中文字幕精品久久久久人妻| 日韩三级电影院| 么公的又大又深又硬想要| 欧美日韩国产在线人成| 亚洲色偷拍区另类无码专区| 篠田优被公侵犯电影| 午夜电影在线播放| 老师你的兔子好软水好多作文高清| 国产午夜无码视频免费网站| 成人草莓视频在线观看| 国产精品v欧美精品∨日韩| 5g影讯5g探花多人运视频 | 亚洲欧美视频网站| 激情图片视频小说| 伊人久久大香线蕉综合电影网 | 国产香蕉国产精品偷在线| a级成人毛片免费视频高清| 夫妇交换性三中文字幕| 一级毛片在线观看视频| 扒丝袜永久网址pisiwa| 久久99精品久久久久久齐齐| 日本理论午夜中文字幕第一页| 久热中文字幕在线精品免费| 欧洲精品99毛片免费高清观看| 亚洲人成网站18禁止久久影院| 欧美成人免费午夜全|