Home>News Center>China
       
 

Wen: No RMB change while speculation is rife
(China Daily)
Updated: 2004-11-29 08:44

China will not reform the exchange rate of the renminbi (RMB) while hot speculations are piled on the Chinese currency, said Premier Wen Jiabao in Vientiane Sunday.


Chinese Premier Wen Jiabao speaks during a trilateral meeting with Japan's Prime Minister Junichiro Koizumi and South Korea's President Roh Moo-hyun on the sidelines of the 10th Association of Southeast Asian Nations (ASEAN) Summit in Vientiane, Laos, November 29, 2004. [newsphoto]
Chinese monetary policy experts have estimated that up to US$30 billion of so-called "hot money" has thronged to China’s inland cities and Hong Kong, buying Chinese RMB yuan, in its gamble that China’s central bank will in the coming months raise the price of its currency.

The Chinese Government is taking four factors into consideration when dealing with reforms to the RMB, Wen told reporters after meeting with leaders attending the ongoing meeting of Association of Southeast Asian Nations (ASEAN).

The first is that any changes must meet certain conditions, and the most important is a stable macro-economic environment, a sound market mechanism and a healthy financial system.

The second is that there must be an appropriate plan to keep the RMB stable at a "reasonable and balanced" level, said Wen, adding that the flexibility of RMB must be increased.

The third factor relates to the timing of any policy."To be honest, the more speculations are made in society (about RMB), the less chance we will take the measure (to change RMB)," said Wen.

The last is that China will take into consideration the influence of RMB reform on China's economy as well as the economies in the region and the world.

"China is a responsible country. In the financial crisis in 1997, we kept the stability of the RMB and made due contributions," said Wen, adding China will not only be responsible for benefits to the Chinese people, but also for the whole world.

Wen meets ASEAN leaders  

Wen, who arrived in Vientiane on Sunday, also met leaders of Laos, Indonesia, Singapore and Malaysia.

Thailand's Prime Minister Thaksin Shinawatra (L) and China's Premier Wen Jiabao pose for a photo before holding bilateral talks prior to the opening ceremonies of the 10th Association of Southeast Asian Nations (ASEAN) Summit in Vientiane on November 29, 2004.
Thailand's Prime Minister Thaksin Shinawatra (L) and China's Premier Wen Jiabao pose for a photo before holding bilateral talks prior to the opening ceremonies of the 10th Association of Southeast Asian Nations (ASEAN) Summit in Vientiane on November 29, 2004. [Reuters]
Premier Wen Jiabao and his Laos counterpart Bounyang Vorachit witnessed the signing of five agreements as part of an official visit.

The two countries agreed to work together on infrastructure and economic projects.

The ASEAN leaders are all in Laos to attend Monday's summit of the association as well as the group's meeting with China, Japan, the Republic of Korea, Australia, New Zealand and India.

With the signings Sunday, the China-Laos partnership moved one step forward. The agreements include deals on economic and technological co-operation as well as four exchanges of letters on helping Laos build roads, survey mineral resources, draft plans for comprehensive development in the north and build power projects.

Wen put forward four-point proposals for advancing bilateral ties, including the increase of high-level contacts between the two countries.

Describing Laos as "good neighbour, good friend, good partner and good comrade," Wen suggested that Laos should combine China's economic and technical assistance with its self-developing ability.

Chinese Premier Wen Jiabao (left) shakes hands with Indonesian President Susilo Bambang Yudhoyono in Vientiane November 28, 2004. They are in the Laos for an ASEAN meeting. Wen told Susilo that China is willing to increase co-operation. The two countries have reached the consensus to build a strategic partnership. [Xinhua]
Chinese Premier Wen Jiabao (left) shakes hands with Indonesian President Susilo Bambang Yudhoyono in Vientiane November 28, 2004. They are in the Laos for an ASEAN meeting. Wen told Susilo that China is willing to increase co-operation. The two countries have reached the consensus to build a strategic partnership. [Xinhua]
"This should become the new form and way for bilateral co-operation," said Wen.

Bounyang held out his hope that the two sides could strengthen co-operation in agriculture, science and technology, mineral resources, investment as well as infrastructure such as hydropower and telecommunications.

Premier Wen also met yesterday with Indonesian President Susilo Bambang Yudhoyono, Singapore Prime Minister Lee Hsien Loong and Malaysian Prime Minister Abdullah Ahmad Badawi.

He told Indonesia's president that China is willing to increase co-operation. The two countries have reached the consensus to build a strategic partnership.

Wen said that the two countries should make efforts to expand trade to US$20 billion.

When meeting with Lee Hsien Loong, Wen said that Singapore's adherence to the one-China policy and its opposition to "Taiwan independence" has laid a stronger foundation for the advancement of bilateral relations.

Lee said that China and ASEAN are moving in the right direction to build a free trade area.

In his talks with Badawi, the two leaders touched on the topic of the South China Sea. Wen said that China is willing to push aside disputes and seek joint development of the region.



 
  Today's Top News     Top China News
 

Wen: No RMB change while speculation is rife

 

   
 

25 killed, 141 still trapped in Shaanxi mine

 

   
 

16 officials in court for accident cover-up

 

   
 

Lai Changxing's limousine auctioned off

 

   
 

Ukraine opposition urges PM's ouster

 

   
 

Chirac rival Sarkozy gets French party boost

 

   
  New regulations on lab safety kick off
   
  25 killed, 141 still trapped in Shaanxi mine
   
  Wen: No RMB change while speculation is rife
   
  Adjustment for fiscal policy discussed
   
  Surplus corn fuels vehicles
   
  Lai Changxing's limousine auctioned off
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 国产va免费精品观看精品| 色噜噜狠狠狠综合曰曰曰| 精品处破视频在线观看| 柳菁菁《萃5》专辑| 奇米777在线视频| 国产乱码一区二区三区| 亚洲日韩AV一区二区三区四区| 中文字幕视频在线观看| 亚洲第一永久色| 爱做久久久久久| 成人黄18免费视频| 国产成人精品a视频| 亚洲欧美色一区二区三区| 七次郎在线视频观看精品| 99自拍视频在线观看| 男人j桶进女人p无遮挡在线观看| 曰批免费视频播放30分钟直播 | 日韩精品无码一本二本三本| 天天视频官网天天视频在线| 国产又爽又粗又猛的视频| 亚洲欧美日韩综合久久久久| 一级毛片aaaaaa视频免费看| 麻豆天美精东果冻星空| 欧美最猛黑人xxxx| 少妇性俱乐部纵欲狂欢少妇| 国产午夜视频在线观看| 亚洲国产天堂久久综合| lover视频无删减免费观看| 蜜臀AV在线播放一区二区三区| 欧美不卡一区二区三区免| 在线观看视频免费123| 四虎影在线永久免费观看| 久久青青草原综合伊人| 88av在线视频| 精品人妻系列无码人妻免费视频| 日韩不卡视频在线观看| 国产精品久久久久9999| 亚洲欧美另类中文字幕| 91精品国产入口| 波多野结衣欲乱上班| 天堂8在线天堂资源bt|