1. Text: | Print|

      Yuan's depreciation within 'normal' range: PBOC official

      2014-04-11 08:11 Xinhua Web Editor: qindexing
      1

      The recent depreciation in the value of Chinese currency renminbi, or the yuan, is within normal range and China is still on track toward a more market-oriented exchange rate regime, a senior Chinese central bank official said Thursday.

      "The recent movement of the renminbi, especially since February and March, I think is normal. The depreciation is only something like 2 percent," Yi Gang, deputy governor of the People's Bank of China, said at a seminar hosted by the School of Advanced International Studies in Johns Hopkins University.

      "If you look at the volatility of all currencies, probably the renminbi is among the smallest," he added, noting that the volatility of renminbi is minor compared to other emerging market currencies such as Indian Rupee and Brazilian real.

      He said he expected yuan's flexibility to increase in the future with two-way fluctuation instead of one way appreciation.

      "If you look at China and you look at the movement of the exchange rate in February and March, we are facing the international external environment of the QE (quantitative easing) tapering by the Fed and also facing the economic slowdown, there are some signals predicting China is going to slow down. And the third item, if you look at February's trade number, we have a 23 billion U.S. dollar trade deficit in February," said Yi.

      "So if you look at what (Fed Chair) Janet Yellen's saying, and the trade figures in China, and also economic indicators," he added. "The market played a determining role in resources allocation. If you believe that, then I think you should let it go. "

      Yi's comments came several days after a senior U.S. Treasury official said Washington would watch closely whether the weakness of yuan signals a shift in China's policy away from moving toward a market-based exchange rate.

      "Of course, it's perfectly normal and understandable that relevant countries and my dear colleagues, they have some concerns. I think that's perfectly normal," said Yi. "I believe that, as time passes by, people will see clearly and better that the entire exchange rate regime mechanism in China is moving toward a market- oriented way."

      The deputy central bank governor said the financial sector reform is an important part in the comprehensive reform blueprint outlined in the Third Plenum of the 18th Central Committee of the Communist Party of China held in November, and China will continue to push forward with it despite difficulties.

      "China will implement a deposit-insurance scheme, probably this year," he noted, citing it as "a very important infrastructure" for continuing liberalization of interest rate.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 永久中文字幕免费视频网站| 在线看片免费人成视频久网下载| 最近免费中文字幕mv在线电影| 亚洲码国产精品高潮在线| 男女午夜24式免费视频| 免费A级毛片无码A∨免费| 国产高清免费在线| 日韩国产欧美亚洲v片| 一级黄色片免费观看| 国产又大又粗又长免费视频| 免费日本黄色网址| 免费观看四虎精品成人| 国产人成免费视频网站| 亚洲日本香蕉视频观看视频| 免费精品国产日韩热久久| 狠狠色伊人亚洲综合网站色| 美女被爆羞羞网站免费| 亚洲国产成人久久笫一页| 国产久爱免费精品视频| 亚洲国产综合91精品麻豆| 97热久久免费频精品99| 亚洲丶国产丶欧美一区二区三区 | 美国免费高清一级毛片| 最近免费中文字幕mv电影| 亚洲乱码一二三四区乱码| 久久免费99精品国产自在现线| 狠狠亚洲狠狠欧洲2019| 2020国产精品亚洲综合网| 成人永久免费福利视频网站| 女人裸身j部免费视频无遮挡| 亚洲午夜福利AV一区二区无码| 四虎影视成人永久免费观看视频| 亚洲另类春色校园小说| 国产免费牲交视频| 成全视频免费观看在线看| 亚洲深深色噜噜狠狠网站| 四虎永久在线精品免费影视| 日本免费高清视频| 亚洲Av永久无码精品黑人| 精品国产_亚洲人成在线高清| 日本妇人成熟免费中文字幕|