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: www.毛片在线观看| 亚洲国产精品综合久久网络| 色综合视频一区二区三区| 国产精品va在线观看无| 99精品国产在热久久无码| 成人福利小视频| 久久五月天综合| 亚洲欧美成人综合| 看全色黄大色黄女片18女人| 国产99在线a视频| 青青操免费在线观看| 国产欧美在线一区二区三区| 538视频在线观看| 在线中文字幕有码中文| jyzzjyzz国产免费观看| 快穿之性色无边(高h)| 中文字幕国产在线观看| 日本乱人伦电影在线观看| 久久精品aⅴ无码中文字字幕不卡| 色狠狠久久av五月综合| 国产欧美日韩综合精品一区二区| www.fuqer.com| 影视先锋AV资源噜噜| 中文字幕免费在线看线人动作大片| 欧美亚洲欧美区| 亚洲欧洲中文日韩久久av乱码| 精品视频在线观看你懂的一区| 国产欧美一区二区三区免费| 你懂得的在线观看免费视频| 国内精品视频一区二区三区八戒| 东京一本一道一二三区| 无码人妻精品一区二区三区久久| 亚洲中文字幕无码久久2020| 欧美日韩精品一区二区三区视频在线| 午夜天堂精品久久久久| 美女羞羞免费视频网站| 国产zzjjzzjj视频全免费| 色综合天天综合中文网| 国产乱人视频在线看| 草莓app在线观看| 国产一国产一级毛片视频|