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Stronger RMB won't affect investment much
"Investors in China are likely to monitor whether or not the central bank will make further adjustments to the exchange rate in the short term," he said. Meanwhile, the expert stressed, that the exchange rate was not the only element that foreign investors took into consideration when expanding their business into China. "First of all, international enterprises will have to consider their overall global strategy before setting up a business in China," he said. He explained that to most large international players China is an indispensable arena. They are still expected to continue investing in China, especially considering the country's advantages in geography, resources, policies, and labour. These aspects are much more important to investors than the exchange rate, he said. Lu's thoughts were echoed by those of Mei Xinyu, a trade expert with the Chinese Academy of International and Economic Co-operation, who added that the appreciation of the renminbi would help to boost the restructuring of foreign investment into the country as well as improve its utilization. Conversely, Lu said the revaluation of the renminbi is expected to help increase outward Chinese investment. The experts agreed that it is very unlikely that these effects would become
evident before the end of this year.
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