日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

  Home>News Center>China
       
 

Further appreciation of renminbi denied
(China Daily)
Updated: 2005-07-27 06:01

The central bank yesterday denied there would be further appreciation of the Chinese currency, saying last week's 2 per cent revaluation did not mean more adjustments.

The People's Bank of China (PBOC) also said that foreign media reports describing the long-awaited move as an "initial adjustment" to the exchange rate were incorrect.


A man looks at an electronic board that show latest foreign exchange rate at a Bank of China branch in Wuxi, East China's Jiangsu Province July 25, 2005. [newsphoto]

The 2 per cent appreciation refers to an adjustment at the beginning of reforms of renminbi, or the yuan's exchange rate determination mechanism, a PBOC spokesman said.

"It does not mean that there will be further revaluation (of the yuan) afterwards," he said.

It is an "important principle" of the yuan's reform to be conducted "step by step", which refers to the gradual process in the reform of the rate's determination mechanism, instead of its level, he stressed.

The spokesman said the 2 per cent appreciation level was calculated based "on a rational equilibrium".

The new level of 8.11 to the dollar, up from the virtually fixed rate near 8.28 that had held for the previous eight years, reflected the equilibrium level - the rate that balances supply and demand, driven by the fundamentals of the economy. The central bank said the size of the revaluation was based mainly on what was needed to adjust the trade surplus.

Some developed countries, including the United States, argued that the yuan was artificially low, giving Chinese exporters an "unfair" trade advantage.

Last week, China raised the value of the yuan and scrapped the currency's peg to the US dollar, swinging to "referring to" an unrevealed basket of currencies in setting the yuan's trading price.

The PBOC spokesman said a small number of overseas media have misunderstood China's exchange rate reform, especially the adjustment of the yuan's value against the dollar.

They even "wrongly" believe that the 2 per cent appreciation of the yuan is just an initial adjustment, "which will trigger expectations of further rate hikes," he said. The media should keep a "responsible" attitude towards their reports, he added.



Submarine drill in East China Sea
6-party talks start in Beijing
Surgery on tiger to remove tumor
  Today's Top News     Top China News
 

Positive signs on first day of nuke talks

 

   
 

Shuttle Discovery blasts into orbit

 

   
 

No drug for disease as death toll hits 24

 

   
 

Further appreciation of renminbi denied

 

   
 

Nuclear industry to seek foreign help

 

   
 

2,500 evacuated after quake kills one

 

   
  Unocal 'almost backed China bid'
   
  Negotiators to continue six-party talks Wednesday: spokesman
   
  Stronger RMB won't affect investment much
   
  Electronics giants may soon merge
   
  Agricultureex-model grapples for new 'spirit'
   
  Mainlandtravel made easier with new rules
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 污视频在线免费播放 | 激情五月六月婷婷 | 九色 在线 | 美日韩免费视频 | 一级性生活免费视频 | 婷婷久久五月天 | 日韩欧美小视频 | 亚洲一区二区三区中文字幕 | 999国产一区二区三区四区 | 天堂在线v | 青青草一区 | 日韩久久精品 | 一区二区三区网站在线免费线观看 | 久久精品免费视频观看 | 美女视频黄在线观看 | 福利片在线看 | 激情视频自拍 | 成片免费观看视频在线网 | 亚洲视频一区二区三区 | 性色av一区二区三区 | 久操欧美 | 久草高清视频 | 成人一级黄色大片 | 欧美射射 | 欧美在线观看一区二区 | 欧美激烈大尺度叫床的床戏 | 欧美人两个人激情的免费视频 | 国产97色在线 | 亚洲 | 成人欧美一区二区三区视频xxx | 日韩精品 电影一区 亚洲 | 亚洲123 | 日本永久视频 | 日韩国产无矿砖一线二线图 | 91短视频在线高清hd | 国产永久在线视频 | 久草社区在线 | 精品极品三级久久久久 | 色综合久久手机在线 | www.qubook. | 国产欧美久久一区二区三区 | 天天影视欧美 |