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 / Economy

Depreciation of yuan not long-term issue

By Wang Yanfei (China Daily) Updated: 2016-03-21 11:10

The yuan's exchange rate will remain stable, despite some fluctuations in the short term, said a senior central bank official during the China Development Forum in Beijing on Saturday.

"There's no basis from the fundamentals supporting a sustained depreciation of the yuan," said Lu Lei, director of the research bureau of the People's Bank of China, the country's central bank.

While the Chinese currency depreciated by 5.8 percent against the US dollar last year, it appreciated against many other currencies and has been largely stable against the dollar this year, according to the China Foreign Exchange Trade System.

After achieving the record high of a $598.1 billion trade surplus last year, China registered a trade surplus of $63.3 billion in January, which rules out the possibility of the currency's sustained depreciation, Lu said.

The senior banker pointed out that China has not adopted a policy of depreciating its currency in order to boost trade competitiveness because "the nation has an adequate trade surplus and because net exports have contributed significantly to its GDP growth".

Echoing his stance, Lawrence Lau, an economist from the Chinese University of Hong Kong, said that although China's foreign exchange reserves have declined from $4 trillion in 2014 to $3.2 trillion, they are still the largest in the world and the amount is sufficient for the country to tackle any impact brought about by the fluctuation of other economies.

China's foreign exchange market has calmed down after months of volatility and the high expectations for big-margin yuan depreciation are simply an "overreaction", said Ding Zhijie, a professor of finance at the University of International Business and Economics in Beijing.

The recent weakening of the US dollar may also help stabilize the yuan's exchange rate, analysts said.

Yu Yongding, an economist at the Chinese Academy of Social Sciences, said the yuan will face less depreciation pressure and that it tends to be more stable at times when the US dollar becomes weaker.

He said the announcement from the Federal Reserve last week that interest rates would not be raised signals a slower pace of interest rate hikes this year.

"A less strong US dollar makes it easier for China's exchange rate management policy," Yu said.

David Dollar, a senior economist at the Brookings Institution in the United States, told Xinhua News Agency that if the dollar continues to weaken, it will facilitate the stabilization of the yuan's exchange rate.

Zhou Xiaochuan, governor of the People's Bank of China, said earlier this month that while he is not able to rule out any future fluctuations of the currency, he expects the yuan's exchange rate to return to normalcy.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 午夜资源网 | 99re视频这里只有精品 | 青青免费在线视频 | 伊人情人综合 | 成人毛片一区二区三区 | 久久综合九色综合欧美狠狠 | 精品国产乱码久久久久久蜜臀网站 | 欧美成人另类 | 黄色国产视频网站 | 香蕉视频成人在线 | 欧美一级生活片 | 天天干天天干 | 一级黄色片在线 | 在线观看免费黄视频 | 黄色在线网 | 欧美黄色小视频 | 国产高清一区 | 中文字幕精品一区 | 福利视频在线看 | 91亚洲一区 | 三级视频在线观看 | 欧美特黄一级大片 | 国产激情毛片 | 四虎永久在线观看 | 久久亚洲在线 | 国产精品久久久久久免费免熟 | 国产91在线看 | 一级α片| 99久久精品国产一区二区三区 | 日韩看片网站 | 日韩在线视频二区 | 日韩欧美一区二区三区在线 | 青青草97国产精品免费观看 | 极品少妇av | 精品综合久久 | 欧美 日韩 精品 | 午夜伦理福利 | 顶级嫩模啪啪呻吟不断好爽 | 欧美视频在线观看免费 | 91久久久久久 | 葵司免费一区二区三区四区五区 |