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

Yuan rises to post-revaluation high
By Jake Lee (Bloomberg)
Updated: 2006-03-21 07:09

China's yuan rose to the highest since a peg to the dollar was scrapped in July, as U.S. senators arrived to press the case for a stronger currency.

"The movements are encouraging," Senator Lindsey Graham said after landing in Beijing. In talks with Chinese officials Tuesday, the Republican from South Carolina said he wants to find out what more could be expected from China.

Graham and Senator Charles Schumer accuse China of keeping the yuan's value low to give its exports a competitive advantage.

US Senator Charles Schumer is seen in this photo taken on February 21, 2006. [Reuters]
US Senator Charles Schumer is seen in this photo taken on February 21, 2006. [Reuters]
"The diplomatic atmosphere has played a role as it suits Chinese interests to move a little quicker," said Simon Flint, head of emerging Asia currency strategy at Merrill Lynch & Co. "The U.S.-China relationship is at risk of deterioration."

The yuan, a denomination of China's currency, the renminbi, climbed 0.09 percent to 8.0241 against the dollar as of 5:30 p.m. in Shanghai, according to data compiled by Bloomberg. It may strengthen beyond 8 to the dollar this month, Flint said.

Schumer, a Democrat from New York, and Tom Coburn, a Republican from Oklahoma, are accompanying Graham for the five-day trip to assess China's exchange-rate policy.

On March 15 the yuan rose 0.12 percent, the biggest gain since the revaluation. The jump followed Premier Wen Jiabao's comment that the market will play a greater role in setting exchange rates. China said at the time of the revaluation last year it would let the yuan move as much as 0.3 percent per day.

'Doing Its Best'

"The focus is going to be on the senators' visit," said Irene Cheung, a Singapore-based currency strategist at ABN Amro Bank NV. "It's a good opportunity for China to allow the yuan to appreciate." Cheung forecasts the yuan will appreciate to 7.65 against the dollar in 12 months.

The government is working to move toward a freely traded currency, Wu Xiaoling, vice governor of the People's Bank of China, told reporters in Beijing on March 18.
Page: 123

(For more biz stories, please visit Industry Updates)

 
 

荣昌县| 福贡县| 蒙自县| 赣州市| 广州市| 基隆市| 隆昌县| 平原县| 无锡市| 正宁县| 梧州市| 大石桥市| 乌兰浩特市| 兴仁县| 宝应县| 瑞丽市| 三明市| 团风县| 西乌珠穆沁旗| 永川市| 思茅市| 双江| 永济市| 温州市| 邵武市| 南平市| 宁波市| 鸡东县| 晋州市| 石柱| 云南省| 越西县| 罗城| 永兴县| 余干县| 汽车| 五河县| 贡嘎县| 吉林省| 彭泽县| 泰和县|