三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / China Development Forum 2019

RMB rate flexibility stays firmly on agenda

By Chen Jia | China Daily | Updated: 2019-03-26 09:17
Share
Share - WeChat
Headquarters of the People's Bank of China, the central bank, is pictured in Beijing, Oct 8, 2018. [Photo/IC]

Central bank vice-governor: Forex trading to be easier for foreign investors

China will maintain a flexible renminbi exchange rate and push forward reform of the foreign exchange regime, Pan Gongsheng, vice-governor of the central bank, said at the China Development Forum 2019 on Monday.

The country will further open the capital account, especially for some items that are still unavailable for free currency exchanges. Foreign exchange trading will be more convenient for foreign investors, according to Pan, who is also head of the State Administration of Foreign Exchange.

"China is working to improve flexibility of the renminbi exchange rate while maintaining the rate at a stable equilibrium. And we have successfully avoided competitive depreciation against other major currencies," he said.

In the future, the market will play a decisive role in the exchange rate regime and China will continually maintain a flexible exchange rate, said Pan, adding that the transparency of the currency pricing system will be improved.

China registered surplus in both the current account and the capital account in 2018, and the renminbi exchange rate played a more important role in balancing international payments, said Pan.

Yi Gang, the central bank governor, said at the same forum on Sunday that "the central bank has already withdrawn from day-today interventions and now more and more market participants are getting used to a flexible exchange rate".

Maintaining a flexible currency exchange rate is necessary to cushion market fluctuations amid global financial fragility, especially when the financial market will be further opened to foreign investors, according to the governor.

Data from the SAFE showed that in 2018, the Chinese currency was relatively stable against other major peers. By the end of last year, the central parity rate of the renminbi weakened 4.8 percent against the US dollar, while the emerging markets' currency index slipped by 10 percent against the US dollar.

Despite the renminbi depreciation, capital outflows in 2018 have remained subdued. A JPMorgan research estimated moderate capital outflow at about $120 billion last year. The country's foreign exchange reserves fell $67.2 billion compared to the amount at the end of 2017.

Given the gloomy outlook of the global economy, the world's leading central banks have sent out dovish messages and stopped monetary tightening, and some analysts predicted that the US dollar may see lower appreciation.

"Returning investor capital and inflows into emerging markets is a trend that will gain popularity throughout the developing world and across different continents," said Jameel Ahmad, global head of currency strategy and market research at FXTM, a foreign exchange trading platform.

"What will be concerning investors behind their trading desks is that it can't be denied that there is a coordinated downbeat view that is being presented by central banks and senior officials across the globe this year," he said.

During the weekend, declarations from Chinese officials to further open the domestic financial market have cheered the guests attending the forum. They are expecting China to allow more foreign players to provide services and trading of financial products in the onshore market.

But the opening also means higher-level contagion from global financial fluctuations, said analysts, adding that China needs to improve the financial risk prevention and management system to keep pace with its opening-up process.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 正在播放avove深夜影院 | aa级毛片毛片免费观看久 | 欧美一区二区三区久久久人妖 | 国产性色视频在线高清 | 性感毛片 | 不卡视频一区 | 大学生久久香蕉国产线看观看 | 站长推荐国产午夜免费视频 | 任你敢不一样精品的视频 | 中文第一页 | 国产精品一区二区丝瓜 | 中国一级毛片在线观看 | 黄色网在线看 | 99re6热视频精品免费观看 | 高清在线亚洲精品国产二区 | 美女久久精品 | 一区二区视频在线 | 国产色秀视频在线观看 | 麻豆精品在线观看 | 97国产在线观看 | 在线无限看免费网站 | 日韩国产欧美精品综合二区 | 精新精新国产自在现拍欣赏网 | 亚洲精品99久久一区二区三区 | 国产在线看不卡一区二区 | 99视频精品全部国产盗摄视频 | 一级毛片在线直接观看 | 全国男人的天堂网站 | 国产99在线a视频 | 久久精品视频99精品视频150 | 亚洲国产综合人成综合网站00 | 爽妇综合网| 免费在线看a | 国产aaa级一级毛片 国产aaa免费视频国产 | 欧美日韩在线观看免费 | 黄色大片网站在线观看 | 久久在线免费视频 | 亚洲成人播放 | jul724青木玲中文字幕 | 亚洲精品福利视频 | 国产51页 |