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

BIZCHINA> In Chinese Press
China won't revalue yuan under pressure
(Agencies)
Updated: 2005-06-22 16:46

China said it would not bow to political and speculative pressures to adjust the value of its currency as a Senate hearing in the United States debates Beijing's fixed exchange rate. 

Zhu Guangyao, director of the international department under the Ministry of Finance, said in an interview posted on the website of the official Xinhua agency that current pressure from China's trading partners and punters betting on a revaluation of the yuan will not have the desired effect.

"This is a sovereignty issue. No other country has any say in this," he said. "Under external pressure and external speculation pressure, no country can make an adjustment. External noise will only delay the process."

The currency has been effectively pegged since 1994, and has been fixed at around 8.27 yuan to the US dollar since August 1997.

Senior financial Chinese officials have repeatedly said that Beijing will not cave in to political pressure - led by the US Congress - to revalue the currency, arguing that the US trade deficit is the fault of the low savings rates of American households, not the yuan's valuation.

At the same time, they have bemoaned inflows of speculative capital, known as "hot money", which have been flooding into the country betting on a move and causing significant distortions to monetary policy tools.

Analysts have estimated that these inflows in 2004 alone may have topped US$100 billion. These capital inflows have helped China's foreign exchange reserves balloon to US$659.1 billion at the end of the first quarter of this year from US$403.3 billion at the end of 2003.

Zhu noted that foreign exchange reserves are currently "nearly" at US$700 billion, but didn't provide any more details. A local press report earlier this week cited an unnamed central bank official as saying that foreign exchange reserves stood at US$691 billion at the end of May.

Zhu reiterated that Beijing is committed to currency reform, but said that the current pressure is only slowing the process.

"The direction of our reform is clear and we are determined to carry on with it but we will not bow to outside pressure. External noise will only disturb the process," he said. US Federal Reserve chief Alan Greenspan and Treasury Secretary John Snow will testify Thursday about the impact of China's fixed exchange rate on the US economy to the Senate Finance panel.


(For more biz stories, please visit Industries)
主站蜘蛛池模板: 日韩精品一二三区 | 日韩免费观看 | 亚洲天堂一区在线 | 人人爽视频 | 欧美一级在线播放 | 日韩网站免费观看高清 | 超级碰在线观看 | 天天透天天操 | 国产成人一区二区 | 久久国产区| 91碰 | 久久国语精品 | 麻豆天堂 | 欧美视频一二三 | 久久久精品一区二区 | 超碰在线成人 | 亚洲黄色影视 | 精品动漫一区 | 国产一区二区三区免费在线观看 | 91亚洲国产成人久久精品麻豆 | 国产精品成人免费 | 日本中文字幕在线观看视频 | 人人色视频 | 日韩一区二区三区在线视频 | 91夫妻视频 | 久久久久久久久久久网站 | 久久视频一区 | 成人免费播放 | 青青自拍视频 | 色综合天天综合综合国产 | 欧美亚韩一区二区三区 | 中文字幕在线观看不卡 | 性欧美videos | 国产无遮挡又黄又爽又色视频 | 国产精品久久久免费 | 日韩免费一级片 | 在线97 | 日韩六区| 成人av影院 | 亚洲图片日韩 | 国产少妇在线观看 |