日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

A step forward to marketize yuan's exchange rate

By Li Yang (chinadaily.com.cn) Updated: 2014-03-18 21:14

The People's Bank of China's third adjustment of the yuan's daily trading range is in line with the direction of China's market reform, according to an article by China Business News. Some excerpts:

PBOC said on March 15 that renminbi's exchange rate against the US dollar will be allowed to rise or fall 2 percent from a daily midpoint rate it sets each morning. The change was in place from March 17.

This is the third time for China's central bank to enlarge yuan's daily trading range since 2005, another stride for China to marketize its currency's exchange rate.

PBOC enlarged the range from 0.3 percent to 0.5 percent in May 2005, and to 1 percent in April 2012.

Exchange rate is an important factor influencing the allocation of foreign and domestic resources. Enlarging the floating range of yuan's exchange rate can effectively boost the flexibility of renminbi's exchange rate, optimize the distribution efficiency of capitals, and play up the market's roles.

But the limited scope of the change shows the central bank is considerably prudent. Analysts predicted the change would be 2.5 percent to 3 percent. The final decision on 2 percent indicates the central bank intended to carry out the reform step by step.

As the central bank explained: "The adjustment gives a full consideration to the adaptive capacity of the Chinese economy, and the change falls in the tolerable scope of various main market players."

This is also a style that the market is familiar with. The formation mechanism of renminbi should be reformed step by step in a controllable way.

The condition of a nation's current account is an important criterion for judging whether its currency's exchange rates are reasonable. Zhou Xiaochuan, governor of PBOC, revealed recently that reforms of the exchange rate, foreign exchange administration and other areas should be carried out now. It seems China's central bank has already seen now as an opportunity to promote exchange rate reform.

Renminbi has continuously appreciated against the US dollar for years. After China deepens its market reform of yuan's exchange rate, renminbi will fluctuate with increasing volatility against the greenbacks.

PBOC will reduce its intervention with the exchange rate. China is moving closer to its target of building a managed floating exchange rate mechanism based on market supply and demand.

China should do more than the adjustment. The government should create better conditions and environment for the development of risk management, risk hedging and investment products, improve the market-maker system, further develop the foreign exchange market and financial products of foreign exchange, and help import and export enterprises and cross-border investment agencies to hedge the exchange rate risk and interest rate risk.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 欧美乱色| 黄色a视频 | 欧美一区日韩一区 | 国产真实乱人偷精品 | 影音先锋在线视频观看 | 亚洲天堂男人天堂 | 91麻豆精品一二三区在线 | 色七七影院 | 什么网站可以看毛片 | 午夜免费福利视频 | 一级特黄特色的免费大片视频 | 日韩精品专区 | 色一情一伦一子一伦一区 | 男人的天堂视频在线 | 亚洲午夜av久久乱码 | 久久免费视屏 | 一区二区三区在线播放 | 日本成人免费在线视频 | 在线看片网站 | 国产妞干网 | 国产精品成人在线视频 | 婷婷激情丁香 | 日韩视频在线观看一区 | a级片黄色| 国产美女在线观看 | 欧美一区二区三区视频 | 波多野结衣毛片 | 日产精品久久久一区二区 | 中国国产黄色片 | 美女天天干 | 中文字幕观看视频 | 日本aⅴ在线观看 | 人人精品久久 | 日韩av男人天堂 | 久久久精品视频在线观看 | 国产午夜免费 | 午夜看片 | 日韩一区二区在线播放 | 人人澡人人射 | 国产一级淫片久久久片a级 香港之夜完整在线观看 | 欧美激情亚洲综合 |