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

Business / Markets

Yuan falls sharply as China improves exchange rate formation system

(Xinhua) Updated: 2015-08-11 19:12

Yuan falls sharply as China improves exchange rate formation system

A Chinese resident displays his Chinese currency and US dollar banknotes in Qionghai city, South China's Hainan province, March 15, 2014. [Photo/IC]

Not export stimulus

Analysts have dismissed the idea that the central bank's move is China purposely adopting a currency devaluation strategy to counter a slump in exports.

Official data showed Saturday that exports fell to 7.75 trillion yuan ($1.24 trillion) in the first seven months of this year, down 0.9 percent from a year ago. In July, exports declined by 8.9 percent.

"Exports have indeed been soft this year, but this is largely a reflection of sluggish external demand," the HSBC said in a research note.

"In an environment of a soft global recovery, the benefits of beggar-thy-neighbor competitive devaluation are neither clear nor easy to reap."

The HSBC believes Chinese policy makers have sufficient policy ammunition to boost domestic demand to offset external headwinds.

"Both monetary and fiscal policies are becoming more accommodative and better coordinated, as evidenced by the reports that policy banks will issue more than 1 trillion yuan of financial bonds to support infrastructure investment."

The HSBC forecast an additional 25 basis points (bps) interest rate cut and 200 bps reserve ratio cut in the second half of this year.

"The combination of monetary and fiscal policy support should help ensure that the economy on a path of cyclical recovery and achieve the growth target of around 7 percent." it added.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
息烽县| 建湖县| 鄂温| 普宁市| 富裕县| 荔波县| 锦州市| 观塘区| 宁波市| 贵港市| 苗栗县| 东乡| 霍林郭勒市| 仁寿县| 伊宁市| 阿拉善盟| 定南县| 武穴市| 柘城县| 滁州市| 崇仁县| 阿拉善右旗| 汝南县| 绥棱县| 吉林省| 嘉义市| 马尔康县| 来宾市| 汉川市| 密山市| 昭苏县| 保康县| 朝阳区| 广汉市| 杭锦后旗| 察雅县| 大同市| 鲁甸县| 肇东市| 贵州省| 峨边|