国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Money

Yuan surges to highest in five years

By Xin Zhiming (China Daily)
Updated: 2010-06-26 09:22
Large Medium Small

Before China's latest currency policy change that ended the peg to the dollar, which was introduced two years ago to minimize the impact of the global financial crisis, the US had been fiercely criticizing the country's yuan policy.

Washington welcomed China's announcement of de-pegging the yuan from the dollar on June 19, but some US legislators and business interests are still demanding a faster and bigger yuan revaluation.

The central bank set the yuan's central parity rate against the dollar at 6.7896 on Friday, 0.56 percent higher than a week ago, the highest since July 2005, when the country started its yuan appreciation process.

Despite the strong rise in the value of the yuan, analysts said the new yuan reform is not aimed at appreciation, but rather is a market-oriented reform and people should not hope too much for a bold revaluation of the yuan.

"In the long term, it will appreciate, given China's continually expanding economy," said Zhou Shijian, a senior economist at the Center for China-US Relations of Tsinghua University. "But not for now; it cannot be ruled out that the yuan may rise or fall in the short term."

Related readings:
Yuan surges to highest in five years Local firms buy into greater role for yuan
Yuan surges to highest in five years China rejects US accusations of yuan undervaluation
Yuan surges to highest in five years Yuan move alone won't alter US, European growth
Yuan surges to highest in five years Yuan revalue gives new opportunities for express companies

The de-pegging of the yuan from the dollar and pegging it to a basket of currencies are of much more importance than any yuan appreciation against the dollar, said Dong Xian'an, chief economist at Industrial Securities. "The main implication is not appreciation," he said.

In Beijing, Foreign Ministry spokesman Qin Gang said that a yuan appreciation would not solve the controversy surrounding China's trade surplus with the United States.

"We believe the appreciation of the yuan cannot bring balanced trade or help the US solve its unemployment, over-consumption and low savings problems," he told journalists on Thursday.

"We hope that the US can reflect on the problems of its own economic structure, instead of playing blame games and imposing pressure on others."

AFP contributed to the story

   Previous Page 1 2 Next Page  

秦安县| 永川市| 屏山县| 西林县| 定边县| 雷州市| 柳林县| 铁岭县| 元谋县| 东乡县| 吉木乃县| 海南省| 长沙市| 榆树市| 凤庆县| 肥城市| 木里| 平顶山市| 汉沽区| 神农架林区| 湘潭市| 普洱| 巢湖市| 西充县| 文化| 南安市| 南川市| 青河县| 浙江省| 寿宁县| 井研县| 姚安县| 拜城县| 花莲县| 含山县| 甘谷县| 贵南县| 轮台县| 黔东| 北京市| 锡林浩特市|