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

  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: 国产女主播喷水高潮网红在线 | 在线观看日韩欧美 | 色婷在线| 久久久久一级片 | 好吊妞在线观看 | 日韩欧美网站 | 日本综合色| 在线第一页 | 国产成人亚洲欧洲在线 | 国产一区二区三区精品在线观看 | 亚洲视频观看 | 亚洲一 | av一二三四区| 免费黄色片视频 | 亚洲国产第一区 | 韩国黄色一级大片 | 日韩三级视频在线 | 亚洲综合在线视频 | 日韩视频专区 | 91麻豆精品一二三区在线 | 亚洲成人精品一区二区三区 | 日韩精品1| 亚洲天堂第一区 | 亚洲欧美一区二区三区久久 | 男人的天堂欧美 | 久久伊人国产 | 一个色在线 | 亚洲午夜久久久 | 91网在线播放 | 欧美黄色激情视频 | www久久久com| 国产不卡视频在线观看 | 亚洲va在线观看 | 性网站在线观看 | 91网在线| 亚洲成av人影院 | 美女中文字幕 | 超碰在97 | 免费成人深夜夜行网站 | 黑人精品一区二区 | jizz日本在线播放 |