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

Economy

China aims to make yuan convertible

(Xinhua)
Updated: 2010-07-31 09:33
Large Medium Small

BEIJING - The ultimate goal of China's exchange rate reform is to make the yuan a fully convertible currency, Yi Gang, head of the State Administration of Foreign Exchange (SAFE), said Friday.

Yi, also deputy governor of the People's Bank of China, the central bank, made the remarks in an interview with Caixin media's China Reform magazine, which is posted on the SAFE website.

"There is no official timetable for a convertible yuan," he said in the interview with the magazine's executive editor Hu Shuli.

The Chinese currency, or the RMB, still shoulders the pressure of appreciation albeit the pressure has eased, as the value of the currency drew close to the equilibrium level after adjustments in the past decade, Yi said.

There is no foundation for the yuan to move sharply, according to Yi.

China can maintain a flexible exchange rate and make the currency stand at a basically reasonable and balanced level, he said.

He added that since China is a large country and its development is unbalanced, the issue becomes more complicated.

"Generally speaking, a convertible currency is one whose exchange rate can float freely," he said.

Special Coverage:
China Advances Yuan Rate Reform 
Related readings:
China aims to make yuan convertible Rising yuan will not hurt trade, say bankers
China aims to make yuan convertible China's exchange rate reform on right track
China aims to make yuan convertible Respect development rights
China aims to make yuan convertible Yuan and absurdity of US demand
Asked whether the yuan may turn into a reserve currency, Yi said it depends upon the market demand.

"We should not push it hard. Do not be talked into the belief that the yuan is very close to a reserve currency. It, in fact, lags far behind that level," Yi said.

China abandoned a decade-old peg to the U.S. dollar five years ago by allowing its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.

Since then, the yuan has strengthened further, though slowly, and has risen more than 21 percent against the greenback.

On June 19 this year, the Chinese central bank announced that it would further the reform of the yuan exchange rate mechanism to improve its flexibility.

 

西吉县| 轮台县| 汝阳县| 辽源市| 乳山市| 鹿泉市| 道孚县| 淳安县| 客服| 双桥区| 西乌珠穆沁旗| 平湖市| 巧家县| 泰顺县| 紫金县| 阜新| 广丰县| 江孜县| 法库县| 江永县| 商洛市| 晋中市| 金溪县| 平乐县| 札达县| 沙河市| 普兰店市| 化州市| 岐山县| 富川| 交口县| 大安市| 清流县| 垦利县| 秭归县| 耒阳市| 化州市| 泌阳县| 通许县| 龙海市| 龙岩市|