Home>News Center>China
       
 

China, US start annual talks on economy, topics thorny
(Xinhua)
Updated: 2005-10-16 21:47

Senior Chinese and US financial and monetary officials started their annual talks Sunday afternoon in Xianghe, a town some 50 kilometers east of Beijing.

The meeting, 17th of its kind, was co-chaired by Chinese Finance Minister Jin Renqing and his US counterpart John Snow.

Chinese Central Bank Governor Zhou Xiaochuan and US Federal Reserve Chairman Alan Greenspan also sat face to face across the negotiation table.

Both countries dispatched nearly 40 delegates to the talks, who were senior officials from regulators and administrators on securities, banking, insurance, foreign exchange and commerce.

Topics of the talks were not immediately available. But Chinese Foreign Ministry spokesman Kong Quan said earlier that the officials are expected to discuss a range of issues at the meeting, including the RMB exchange rate as well as global economy.

U.S. Federal Reserve Board Chairman Alan Greenspan, U.S. Treasury Secretary John Snow, Chinese Finance Minister Jin Renqing and People's Bank of China Governor Zhou Xiaochuan talk before the opening ceremony of the 17th session of the Sino-U.S. Joint Economic Committee meeting in Grand Epoch City in Xianghe, about 100 km east of Beijing, October 16, 2005.
(L-R)U.S. Federal Reserve Board Chairman Alan Greenspan, U.S. Treasury Secretary John Snow, Chinese Finance Minister Jin Renqing and People's Bank of China Governor Zhou Xiaochuan talk before the opening ceremony of the 17th session of the Sino-U.S. Joint Economic Committee meeting in Grand Epoch City in Xianghe, about 100 km east of Beijing, October 16, 2005. [Reuters]
On July 21, China announced that its currency, the RMB yuan, will be traded at a rate of 8.11 to the US dollar and the yuan to US dollar pegging system is switched to a basket of foreign currencies. Since then, the yuan has appreciated by nearly two percent against the US dollar.

However, some developed nations, typically the United States, still contended that the yuan was undervalued, giving Chinese exporters an "unfair" advantage. They said the two percent rise in the yuan's value is too small.

In response, Chinese Premier Wen Jiabao reiterated that the reform of the RMB exchange rate mechanism should be "a gradual process."

In a meeting with International Monetary Fund Managing Director Rodrigo de Rato, Wen said that to gradually establish a managed, floating exchange rate system based on market supply and demand and to keep the yuan basically stable at a reasonable and balanced level is the "unalterable direction" and goal of China's exchange rate reform.

Zhao Jinping, an economist with the State Council Development and Research Center, said Wen's remarks showed the goal of China's exchange rate reform is clear and consistent and it will not be changed due to some outside criticism.

"What should be discussed currently is how to minimize the impact of the reform to the world economy rather than pressing China for a faster speed," he said.

Finance Minister Jin put it in a more direct way, saying that the yuan appreciation would not remove economic imbalances of the world, especially of certain nations, and that China will not follow the "orders" of others to conduct the exchange rate reform.

Established in 1979, the JEC has served as a regular forum for Chinese and US officials to get together and discuss economic issues.

On Monday, the Chinese and US officials will continue the meeting at the Diaoyutai State guest House in Beijing. The 17th JEC meeting is expected to close Monday afternoon.



President Hu talks to Shenzhou VI astronauts
President Hu at G20 meeting
Tibet railway
  Today's Top News     Top China News
 

Shenzhou VI to return early Monday morning

 

   
 

Weather favorable for Shenzhou VI's return

 

   
 

US pushing for more open markets in China

 

   
 

Iraqi charter seems headed for passage

 

   
 

Rumsfeld departs for Beijing Monday

 

   
 

Canada to export 450,000 bpd of oil in 6 yrs

 

   
  Shenzhou VI to return early Monday morning
   
  Landing system ready to greet Shenzhou VI astronauts
   
  China finance talks target energy prices
   
  Rumsfeld departs for Beijing Monday
   
  US pushing for more open markets in China
   
  China needs sugar security reserve - experts
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 人妻少妇乱子伦精品| 好男人社区成人影院在线观看| 国产男女猛烈无遮挡免费网站| 久久天天躁狠狠躁夜夜av| 精品无码成人久久久久久| 国产成人综合久久久久久| 888亚洲欧美国产VA在线播放| 日韩AV片无码一区二区不卡| 再深点灬舒服灬太大了添a| 老司机激情影院| 在线观看的网站| 久久精品中文字幕不卡一二区| 欧美日韩3751色院应在线影院| 国产一区二区小早川怜子| 国产四虎免费精品视频| 女人洗澡一级特黄毛片| 亚洲一区中文字幕| 精品无码一区二区三区| 国产免费av片在线播放| 免费成人激情视频| 女人双腿搬开让男人桶| 中文字幕www| 日批视频网址免费观看| 久久精品亚洲欧美日韩久久| 果冻传媒国产仙踪林欢迎你| 亚洲成a人片在线观看中文| 波多野结衣一区二区三区高清av | 男女猛烈xx00免费视频试看| 听了下面湿透的娇喘音频| 美女网站色在线观看| 国产资源视频在线观看| 中文字幕精品一区二区2021年| 欧美日韩国产专区| 亚洲色大成网站www永久男同| 跪着侍候娇吟羞辱鞭打| 在线免费观看欧美大片| kink系列视频在线播放| 少妇大胆瓣开下部自慰| 三年片在线观看免费观看大全中国 | 日韩精品无码一区二区三区免费 | 99久久国产综合精品五月天|