>Full Coverages>China>2006 NPC & CPPCC
   
 

Premier rules out RMB one-off surprise rise
(Reuters)
Updated: 2006-03-14 14:02

China will allow the yuan to move more flexibly but sees no need for another one-off surprise adjustment such as last July's 2.1 percent revaluation against the dollar, Premier Wen Jiabao said Tuesday in Beijing.

"According to the current market-oriented currency formation regime, there is room for the yuan to fluctuate either up or down on its own in line with changes in the market. It's no longer necessary for China to take one-off administrative measures," Wen told a news conference after the end of the annual session of parliament.

The yuan has risen by about 1 percent since it was revalued by 2.1 percent on July 21, 2005, depegged from the dollar and set free to float in a managed bands.

"There will be no more surprises," Wen said.

Last July's shift in the exchange rate regime had been foreshadowed at Wen's annual news conference last March at the Great Hall of the People, when he said yuan value adjustment in the pipeline would be a surprise, to shun speculators.

Before the July 2005 move, the yuan traded at about 8.28 to the dollar. The revaluation took it to 8.11 and it now trades at about 8.04. The United States has alleged the rate undervalues the Chinese currency and gives the country a competitive advantage in trade.

Wen noted that the yuan, also known as the renminbi (RMB), had risen against the dollar even though the US currency itself has been strong. And its gains against the euro and the yen had been even greater.

"Through this reform we have established a new RMB exchange rate regime. We will further strengthen the exchange rate system and we will expand the foreign exchange market, and allow more flexibility in the fluctuation of the Chinese currency," he said.

The administration of US President George W. Bush is under pressure to rein in a bilateral deficit that on US figures reached $201.6 billion in 2005. China, which counts Hong Kong trade separately, put its calculated surplus with the United States last year at $114.2 billion.

The US-China trade gap and yuan are expected to feature high on the agenda during Chinese President Hu Jintao's next visit to the United States, expected in late April. Some US lawmakers are threatening to impose tariffs on Chinese imports unless Beijing permits a faster rate of climb in the yuan.

 
  Story Tools  
   
 
     
主站蜘蛛池模板: 97精品人妻一区二区三区香蕉| 亚洲一区二区三区在线| 色噜噜视频影院| 欧美精品v欧洲精品| 国产真实乱系列2孕妇| a级国产乱理伦片在线观| 成人欧美1314www色视频| 久久精品免费一区二区喷潮| 欧美人妻日韩精品| 亚洲精品欧美精品国产精品| 在线免费观看h| 日本二区免费一片黄2019| 亚洲黄网站wwwwww| 色88久久久久高潮综合影院| 国产大片b站免费观看直播| 浮力影院国产第一页| 国产视频第一页| mp1pud麻豆媒体| 巨年少根与艳妇全文阅| 中文字幕你懂的| 日本xxxxx高清| 久久天天躁狠狠躁夜夜不卡| 最新国产精品自在线观看| 亚洲天堂一区在线| 老师您的兔子好软水好多动漫视频 | 国产性生交xxxxx免费| 高清永久免费观看| 国产精品香蕉在线观看| 99久久人人爽亚洲精品美女| 日本精品久久久久护士| 五月天婷婷精品视频| 欧美人与动性xxxxx杂性| 亚洲成av人片在线观看无码不卡| 波多野结衣xfplay在线观看 | 一级毛片成人免费看免费不卡| 抽搐一进一出gif日本| 久久99视频精品| 日韩人妻无码专区精品| 久热免费在线视频| 男人桶女人爽羞羞漫画| 午夜伦伦影理论片大片|