Home>News Center>China
       
 

Central bank to take safe approach on currency peg
(Agencies)
Updated: 2004-11-07 09:32

China's central bank said it would take a "gradual and safe" approach to loosening the yuan-dollar peg, following International Monetary Fund calls to let the currency float in a wider margin.


A Bank of China employee counts five-yuan bank notes in Beijing. China's central bank said it would take a "gradual and safe" approach to loosening the yuan-dollar peg, following International Monetary Fund calls to let the currency float in a wider margin. [AFP]
A spokesman for the People's Bank of China quoted by the Jinrong Shibao financial daily on Saturday said China would phase in moves to make the currency exchange rate more flexible.

The yuan is currently pegged in a narrow margin around 8.27 to the dollar under a regime enforced by the People's Bank of China. The spokesman said any moves to loosen the peg would be complex and would need to take many factors into consideration.

The bank would "adopt various measures to promote this reform gradually and safely," he said.

The bank's comments followed publication of an IMF report in Washington on Friday following meetings held with Chinese authorities in May.

The report said China was concerned that moves to relax the yuan-dollar peg could spark a speculative wave forcing the yuan higher.

"While acknowledging the need eventually for increased exchange rate flexibility, the (Chinese) authorities have strong reservations about making an initial move in present circumstances," the IMF staff said.

"In particular, they were concerned that a small initial move could exacerbate capital inflows."

The statement appeared to reflect a concern that many overseas investors believe the yuan is undervalued.

However IMF staff said they were not convinced that the yuan was "substantially undervalued" and suggested that "a larger initial move would be necessary" if sizeable speculative capital inflows were to continue.



 
  Today's Top News     Top China News
 

Nation likely to be 3rd largest trading power

 

   
 

Nutritional imbalance plagues people

 

   
 

Mine blast kills 33, injures 6 in Henan

 

   
 

Coal mining: Most deadly job in China

 

   
 

Shen and Zhao win Cup of China

 

   
 

Consumer price remains stable in October

 

   
  Hu pledges strategic partnership with Brazil
   
  Coal mining: Most deadly job in China
   
  Mine blast kills 33, injures 6 in Henan
   
  Consumer price remains stable in October
   
  Work on anti-trust legislation stepped up
   
  Wen: Nation strengthens ties with Luxembourg
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
China to discuss currency policy with G-7 nations
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 亚洲色偷拍区另类无码专区| 亚洲av无码乱码精品国产| 97久久精品无码一区二区天美 | 中文在线观看视频| 波多野结衣一区二区三区88| 强行交换配乱婬bd| 国产一区二区免费在线| HEYZO高无码国产精品| 最近中文字幕电影在线看| 午夜福利视频合集1000| 无限资源视频手机在线观看| 无码专区狠狠躁躁天天躁| 亚洲熟妇色自偷自拍另类| 野花社区视频www| 在线精品国产一区二区三区| 久久国产小视频| 波多野结衣一区二区三区在线观看 | 欧美熟妇另类久久久久久不卡| 国产二级一片内射视频播放| a拍拍男女免费看全片| 日韩av片无码一区二区三区不卡| 人人爽人人澡人人高潮| 韩国亚洲伊人久久综合影院| 欧美性xxxxx极品娇小| 日本三级在线观看免费| 啊老师太深了好大| 6080yy成人午夜电影| 成人片黄网站A毛片免费| 亚洲伊人成无码综合网| 精品成人AV一区二区三区| 国产狂喷潮在线观看| jjzz在线观看| 日韩不卡视频在线| 亚洲AV无码国产精品永久一区| 男女无遮挡边摸边吃边做| 国产国语对白露脸正在播放| 99久久国产综合精品2020| 日批视频网址免费观看| 亚洲宅男天堂在线观看无病毒 | 色婷婷五月综合丁香中文字幕| 国产精品无码久久综合|