久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

China will act on yuan, but on its terms
(Agencies)
Updated: 2005-05-17 18:41

BEIJING - China will push forward steadily with reform of the yuan, Vice Premier Zeng Peiyan said on Tuesday, a day after Premier Wen Jiabao insisted Beijing would not bow to foreign pressure for a rise in the currency.

Vice Premier Zeng Peiyan[L] delivers a speech at the Fortune forum in Beijing May 17, 2005. [newsphoto]
Zeng also vowed to speed up reform of China's state-owned enterprises and financial institutions. Market-orientated changes to China's system of setting interest rates were also on the agenda, he said in a speech to a business conference.

"We will steadily push forward reform of the renminbi exchange rate formation mechanism," Zeng said.

The yuan, also known as the renminbi, has been pegged near 8.28 per dollar since the 1997-98 Asian financial crisis.

But China's big balance-of-payments surplus, and in particular its growing trade surplus with the United States, is increasing pressure on Beijing to loosen the peg and let the currency rise.

Like Zeng, China's central bank governor reaffirmed the authorities' commitment to eventually unshackle the yuan.

"I believe a good exchange rate regime and some kind of reforms in that regard will help strengthen the confidence of both domestic and international investors," Zhou Xiaochuan, the governor of the People's Bank of China, told the forum.

"If we move in this direction, it should be a good thing for the market," said Zhou. But he gave no hint as to the timing of any shift, which is the subject of fevered speculation on world markets.

Washington blames what it sees as an unfairly cheap yuan for a surge in Chinese textile imports since a decades-old system of quotas on developing countries' clothing exports ended on Jan. 1.

The Bush administration said last week it would reimpose curbs on imports of Chinese trousers, shirts and underwear, a move denounced by Beijing as flouting world trade rules.

DOING IT OUR WAY

Wen told Washington on Monday not to politicise the textiles dispute, saying that doing so could throw up obstacles to China's long-standing plan to let the yuan trade more freely.

"Reform of the renminbi's exchange rate is a matter of China's own sovereignty," the official Xinhua news agency quoted Wen as saying. "Any pressure or media play-up, or politicising an economic matter, will not help solve problems," he told a visiting U.S. business delegation.

The deputy head of a top government think tank took up the theme on Tuesday, saying China would set its own agenda.

"When to reform China's foreign exchange mechanism, and the level of the renminbi, will depend entirely on China's own needs," said Li Jiange, an economist with the rank of vice minister in the State Council's Development Research Center.

Chinese Vice Commerce Minister Liao Xiaoqi summoned David Sedney, the deputy head of the U.S. embassy in China, to express China's "strong displeasure and firm opposition" to the new textile curbs, the People's Daily newspaper reported on Tuesday.

The president of the U.S. Chamber of Commerce, Tom Donohue, acknowledged that letting the yuan float would not solve all bilateral trade problems such as the surge in textiles and rows over counterfeit goods.

But he said China needed to make a move toward flexibility in order to placate Congress. Momentum is building behind a bill in the Senate to impose a 27.5 percent tax on Chinese imports unless Beijing frees up the yuan.

"I am not an advocate of immediate movement to total floating of the currency. I think it ought to happen, and it ought to start now, but I think it should be evolutionary, not revolutionary," Donohue, who met Wen on Monday, told Reuters.



 
  Today's Top News     Top China News
 

Hu: A developing China will benefit global businesses

 

   
 

China will act on yuan, but on its terms

 

   
 

Time Warner in talks for China TV tie-ups

 

   
 

WHA rejects Taiwan-related proposal

 

   
 

Chiang: Momentum key to cross-Straits ties

 

   
 

Jilin in running for nuclear power plant

 

   
  China will act on yuan, but on its terms
   
  Forex trade expansion not mean to revalue yuan
   
  Great forum, great Beijing
   
  Zeng: Consuming less energy to quadrupling GDP
   
  Draft of G-4 to undermine UN reform process: FM
   
  Bad weather kills 24, injures hundreds in China
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Forex trade expansion not mean to revalue yuan
   
Forex trade expansion not mean to revalue yuan
   
Pressure on RMB will not help -- Wen
   
Pressure on RMB will not help -- Wen
   
Premier Wen: China won't yield on yuan
   
Pressure on yuan revaluation won't work
   
Pressure on yuan revaluation won't work
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 91久久亚洲国产成人精品性色 | 亚洲 欧美 日韩在线 | 亚洲韩国欧美一区二区三区 | 亚洲国产精品自在现线让你爽 | 久久视频国产 | 男女视频在线免费观看 | 久久久久久久久久毛片精品美女 | 国产精品成人久久久久 | 成人国产精品高清在线观看 | 国产一级性片 | 日韩一级在线视频 | 黄色网址网站 | 最新欧美精品一区二区三区 | 久爱午夜精品免费视频 | 9久久免费国产精品特黄 | 欧美日韩成人在线视频 | 波多野结衣一区二区三区高清在线 | 天天澡天天碰天天狠伊人五月 | 香蕉成人国产精品免费看网站 | 久久久久久国产精品免费 | 九九九九热精品免费视频 | 成人黄色免费观看 | 国产欧美日韩综合精品一区二区三区 | 日韩精品亚洲人成在线观看 | 四虎免费大片aⅴ入口 | 香港经典a毛片免费观看爽爽影院 | 国产一区二区三区在线视频 | 鲁大师成人精品视频 | 国产精品免费看 | 国产高清精品自在久久 | 国产精品手机在线亚洲 | 国产精品亚洲第一区二区三区 | 久久久国产一区二区三区丝袜 | 欧美一级特黄乱妇高清视频 | 国产成人禁片免费观看视频 | 国产精品久久久久久久 | 日韩美女大全视频在线 | 亚洲精品国自产拍影院 | www日本高清 | 亚洲午夜片 | 国产亚洲精品国产第一 |