Home>News Center>China
       
 

China: We won't revalue yuan
(Reuters)
Updated: 2005-11-10 22:16

China will not again adjust the yuan exchange rate as it did in July, and will instead let market forces play a main role in setting its value, deputy central bank chief Xiang Junbo was quoted on Thursday as saying.

Chinese officials have repeatedly rejected market speculation of another one-off currency adjustment even though many economists believe July's 2.1 percent revaluation was too modest.

The United States has also continued calling for a stronger yuan.

"In the future, the renminbi (yuan) exchange rate will be mainly decided by market supply and demand and there won't be another one-off official adjustment," Xiang said in a recent speech posted on the central bank's Web site.

China has let the yuan rise by just 0.3 percent against the dollar since it revalued the currency by 2.1 percent in July, even though in theory the yuan can now rise or fall against the dollar by up to 0.3 percent each day.

China would widen the yuan's trading band at an appropriate time, Xiang said, without saying whether he was referring to the closely watched yuan/dollar trading band.

"The People's Bank of China will adjust the renminbi's floating band when the time is appropriate, based on its consideration of the markets as well as the economic and financial situation," he said.

In September the central bank said the yuan's trading band against the dollar was appropriate, soon after it widened the yuan's daily trading band against non-dollar currencies to 3 percent from 1.5 percent.

"We will manage and regulate the yuan exchange rate according to the maturity of the markets and will make improvements towards a more flexible exchange rate regime while keeping the yuan exchange rate basically stable at a rational and balanced level," he said.

But Xiang stressed that the yuan exchange rate alone was not enough to correct the imbalances in China's balance of payments, and called for greater efforts to boost consumption and promote economic restructuring.

China revalued the yuan by 2.1 percent to 8.11 on July 21, scrapping a decade-long peg to the dollar and putting the yuan under a managed float with reference to a currency basket.

Xiang also repeated a pledge that the central bank would keep monetary policy "basically" stable in 2006 by using monetary tools in a flexible way and improve the yuan's mechanism.



Fire kills 5 in Northeast China
Aerobatics show in Hunan
Final rehearsal
  Today's Top News     Top China News
 

Australia, US, Japan praise China for Asia engagement

 

   
 

Banker: China doing its best on flexible yuan

 

   
 

Hopes high for oil pipeline deal

 

   
 

Possibilities of bird flu outbreaks reduced

 

   
 

Milosevic buried after emotional farewell

 

   
 

China considers trade contracts in India

 

   
  EU likely to impose tax on imports of Chinese shoes
   
  Bankers confident about future growth
   
  Curtain to be raised on Year of Russia
   
  Coal output set to reach record high of 2.5b tons
   
  WTO: China should reconsider currency plan
   
  China: Military buildup 'transparent'
   
 
  Go to Another Section  
 
 
  Story Tools  
   
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 成人韩免费网站| 欧美黑人巨大videos极品视频| 国产无卡一级毛片aaa| 97色偷偷色噜噜狠狠爱网站97| 成全动漫视频在线观看免费播放| 久久精品国产久精国产| 欧美另类第一页| 亚洲精品欧美日韩| 福利视频免费看| 咪咪色在线视频| 蝌蚪蚪窝视频在线视频手机 | 欧美又大粗又爽又黄大片视频黑人 | 日韩人妻无码一区二区三区| 亚洲国产成人久久一区二区三区 | 内射人妻无套中出无码| 色屁屁影视大全| 国产女人18毛片水| 亚洲网站www| 国产精品特级露脸AV毛片| 99爱在线精品视频免费观看9| 妖精视频在线观看免费| 中国国产高清一级毛片| 无码天堂亚洲国产AV| 久久国产精品2020盗摄| 日韩成人无码一区二区三区| 亚洲va在线va天堂va不卡下载| 欧美日韩生活片| 亚洲第一区精品日韩在线播放| 狠狠躁天天躁无码中文字幕图| 免费日韩在线视频| 精品亚洲国产成人| 农村乱人伦一区二区| 美女免费视频黄的| 同城免费妇女寂寞| 紧扣的星星完整版免费观看| 嗯灬啊灬老师别揉我奶了啊灬嗯| 荡货把腿给我打开视频| 国产丰满麻豆vⅰde0sex| 被合租粗糙室友到哭| 国产午夜无码片在线观看影院| 麻豆视传媒一区二区三区|