综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

BIZCHINA> News
Rising yuan not linked to Hu's US trip: c.banker
(Reuters)
Updated: 2006-03-18 16:30

Chinese President Hu Jintao's planned visit to the United States next month is not determining the quickening appreciation of the yuan, Wu Xiaoling, a deputy governor of the People's Bank of China, said on Saturday.

Asked by Reuters on the sidelines of a financial forum whether China would let the yuan rise faster ahead of Hu's trip, expected in late April, she said: "As Wen Jiabao has said, there is no link. We will use market means."

Rising yuan not linked to Hu's US trip: c.banker
A bank clerk counts Renminbi in a bank in Haian, eastern China's Jiangsu province, March 15, 2006. China's yuan scored its biggest one-day gain to the dollar on Wednesday since its July revaluation after Premier Wen Jiabao ruled out a further one-off revaluation of the local currency yesterday. [China Daily]
Chinese Premier Wen, on Tuesday ruled out a further one-off revaluation and said the yuan would fluctuate according to market forces.

Wu said later in a speech to the forum that China needed to keep tweaking its policies to reduce the external payments imbalances that caused its foreign currency reserves to balloon to $819 billion at the end of 2005, second only to Japan's.

"China should continue to make adjustments to its foreign exchange policy of relaxed inflows combined with strict outflows, which is the source of excessive increases in foreign exchange reserves," she said.

Wu also said China would continue to promote overseas investment. Chinese companies spent more than $6 billion abroad in 2005 as Beijing encouraged firms to "go forth" in search of natural resources and markets.

The authorities would also redouble their efforts to cut off what Wu called the "irrational" supply of foreign exchange -- a reference to inflows that circumvent China's capital controls in order to speculate on property or a rise in the yuan.

The yuan gained 0.24 percent this week -- a weekly record since it was revalued by 2.1 percent on July 21 and cut free from an 11-year old dollar peg and allowed to float within tightly managed bands.

It has risen a total of 0.98 percent since then, far from enough to satisfy critics in Washington.

They say the yuan is so undervalued that it gives Chinese products an unfair advantage in U.S. markets, costing millions of lost American jobs and fuelling a record bilateral trade gap.

U.S. Senator Charles Schumer, a New York Democrat, and Sen. Lindsey Graham, a South Carolina Republican, will head to Beijing next week to hear firsthand what China is doing about its currency, before making a final decision on a bill threatening the country with a 27.5 percent import tariff.

Officials have repeatedly said that China will gradually let the yuan move more freely but that it must first develop the infrastructure of its foreign exchange market so banks and firms can hedge the risks that come with greater volatility.

To that end, Wu said China would roll out more currency derivative products as well as forward rate agreements. These let two parties manage their risk exposure by fixing a future interest rate today.


(For more biz stories, please visit Industries)
仲巴县| 隆德县| 犍为县| 宣武区| 息烽县| 周至县| 嵩明县| 郯城县| 清苑县| 专栏| 盐津县| 淮安市| 开化县| 南昌市| 海林市| 松原市| 济阳县| 兴山县| 比如县| 南通市| 安图县| 宣武区| 仪陇县| 勃利县| 靖州| 伊宁县| 定西市| 南平市| 白城市| 湘乡市| 平山县| 彭山县| 大同县| 长沙市| 乌兰察布市| 璧山县| 塔河县| 探索| 营山县| 肇庆市| 铁岭县|