www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Economy

Devaluation not in China's interests: PBOC vice-governor

By Zheng Yangpeng in Hangzhou (chinadaily.com.cn) Updated: 2016-03-02 14:06

Devaluation not in China's interests: PBOC vice-governor

China's central bank's deputy governor? Chen? Yulu [Photo/chinadaily.com.cn]

China's central bank's deputy governor said devaluating the yuan does not serve China's best interests.

Contrary to public perception that a weaker yuan could boost price competitiveness and give exports a leg up, Chen Yulu, deputy governor of People's Bank of China, said China's massive intermediary goods trade, which accounts for 30 percent of the world's total, means that while yuan depreciation benefits final merchandise exporters, it would raise import prices on intermediary goods, thus squeezing Chinese manufacturers' margin.

"China is not only the world's largest manufacturer but also the largest middleman. Devaluation is hardly to the interests of China," Chen said on Tuesday at a PBOC—New York Fed joint symposium in Hangzhou.

Like other central bank officials, Chen reiterated that there was no basis for a persistent drop in the yuan, citing Bank of International Settlements (BIS) estimate of the yuan's real effective exchange rate was around 10 percent overvalued.

"The BIS estimated the real effective exchange rate was around 10 percent overvalued. If the yuan's real effective exchange rate is way below BIS estimates, there is not much room for renminbi depreciation. Therefore, it is very important to reference the yuan against a basket of currencies and keep it stable," Chen said.

He also warned of an increasing spillover effects from the "great divergence" in global monetary policies.

"US Fed rate increase, at a time that most economies are cutting rates, might widen the interest rate gap between US and the rest of the world, and further strengthen the value of the US dollar. As the dollar goes up, emerging economies might face mutually reinforcing currency depreciation and capital outflow. Plunging commodity prices might compound their difficulties," Chen said.

"Under a strong-dollar cycle, if emerging economies didn't handle their foreign debt-incurred risks well, it could trigger financial turbulence in certain emerging economies, or the outburst of regional financial crisis."

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 一级片免费在线 | 日韩精品永久免费播放平台 | 99精品视频观看 | 成 人 免费 网站 | 免费看欧美成人性色生活片 | 91香蕉网 | 精品在线视频免费观看 | 国产三a级日本三级日产三级 | 久久免费视频网 | 香蕉视频国产精品 | 成人软件网18免费视频 | 免费一级大毛片a一观看不卡 | 美美女高清毛片视频免费观看 | 日本a级片免费观看 | 视频偷拍一级视频在线观看 | 99久久久久国产 | 日韩一区二区中文字幕 | 亚洲精品国产男人的天堂 | 美女很黄很黄 | 特黄特色三级在线观看 | 成人黄色在线视频 | 在线观看亚洲国产 | 波多野结衣一区二区三区88 | 日韩欧美亚洲综合久久99e | 在线亚洲播放 | 9cao在线精品免费 | 亚洲精品不卡视频 | 亚洲在线精品视频 | 99免费在线播放99久久免费 | 久久国产精品久久精 | 中文字幕一区二区三区精彩视频 | 国产呦精品系列在线 | 国产在线一区二区三区欧美 | 亚洲免费美女视频 | 中国美女一级片 | 亚洲自偷自偷图片在线高清 | 精品99久久| 三级三级三级网站网址 | 国产成人精品高清不卡在线 | 国产大陆精品另类xxxx | 欧美亚洲国产成人高清在线 |