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: 快色视频在线观看 | 另类天堂av | 亚洲一区视频 | 欧美日韩伊人 | 欧美成人a视频 | 亚洲大片免费 | 国产午夜精品一区二区三区嫩草 | 国产精品毛片va一区二区三区 | 欧美精品在线观看 | 91视频在线免费 | 久久精品国产亚洲7777 | 亚洲一二三四五六区 | 久久99久久99精品免费看小说 | 日本一区二区三区在线观看视频 | 久久久久久91 | 久久视频在线免费观看 | 欧美日韩久久久 | 九九欧美 | 日本少妇激情 | 国产精品一二三在线观看 | 天天干天天添 | 中文字幕在线观看你懂的 | 日本三级精品 | a√天堂网| 婷婷九月| 亚洲性夜 | 午夜国产精品视频 | 国产一区二区福利 | 成人午夜视频在线观看 | 色综合天天干 | 国产最新av | 国产日韩欧美视频 | 一级片大全 | 日韩精品一区在线观看 | 亚洲影音先锋 | 日韩成人小视频 | 亚欧视频在线观看 | 欧美色偷偷 | 一级片在线观看免费 | 国产一极毛片 | 午夜看看 |