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

  Home>News Center>China
       
 

Forex market needs fast growth, reform
By Xiao Zhang (China Daily)
Updated: 2004-06-11 22:07

China's foreign exchange authorities said on Friday the nation's forex market needs faster growth and pledged efforts to propel its development.

Hu Xiaolian, deputy director of the State Administration of Foreign Exchange (SAFE), also said the faster development of the forex market should be co-ordinated with greater convertibility of the local currency, or renminbi, and further improvements in the mechanism through which the currency's exchange rate is determined.

Ten years after China established a nationwide interbank forex market in a major reform, the market is still underdeveloped when compared to developed countries, Hu said in a speech published on the administration's website on Friday.

Immature market participants and systematic constraints such as capital account controls which restrict demand and supply, as well as inadequate exchange rate flexibility are among the major reasons behind the low development level of the market, he said.

In building a developed forex market, Hu said measures will include allowing non-banking financial institutions and large corporate groups to enter the interbank market.

This would introduce market makers, foster intermediaries like brokers and a forex exchange, as well as enhance supervisory efficiency.

Product innovation will also speed up, he said. That will include allowing transactions between foreign currencies, promoting forward transactions between banks and other businesses, and launching derivatives like swaps, futures and options.

Faster market construction will require fundamental stability in the exchange rate for the yuan, along with further efforts to explore a better exchange rate-forming mechanism that fully reflects demand and supply, Hu said. He added that there should be further reform moves towards the creation of a benchmark exchange rate system.

The regulator said greater convertibility of renminbi should be pursued simultaneously, which would include reforming the mandatory forex settlement system to facilitate trade. This would allow banks to play a bigger role in product development and pricing, and promote capital account convertibility of renminbi in an orderly manner.

 
  Today's Top News     Top China News
 

China consumer prices hit seven-year peak

 

   
 

Foreign trade scores surplus

 

   
 

WWII comfort station to be protected as relics

 

   
 

Forex market needs fast growth, reform

 

   
 

China vows more strikes against terrorism

 

   
 

Tens of thousands mourn Reagan in DC

 

   
  FM: China will not surrender to terrorism in any form
   
  China, Hungary sign joint statement
   
  Slain workers identified; 2 suspects nabbed
   
  China moves to build a green cyber space
   
  Man gets 3-year imprisonment for subversive web posts
   
  10 trapped miners in Beijing die
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  When will china have direct elections?  
Advertisement
         
主站蜘蛛池模板: 一级成人 理伦片 | 亚洲免费视频网 | 一本久道久久综合 | 妖精视频在线观看18 | 亚洲婷婷综合中文字幕第一页 | 久久久久久91 | 五月婷婷婷 | 精品视频在线看 | 一级黄色片国产 | 美女吹潮 | 精品久久久久久国产 | 精品国产免费一区二区三区 | 国产亚洲精品自在久久不卡 | 国产伦一区二区三区高清 | 日本黄色免费网站 | 免费一级欧美性大片 | 国产高清在线精品一区二区 | 欧美精品午夜毛片免费看 | 国产在线一区二区三区 | 自拍影视 | 91视频中文字幕 | 久草免费在线色站 | 68久久久久欧美精品观看 | 国产精品亚洲午夜一区二区三区 | 风间中文字幕亚洲一区中文馆 | 国产91免费视频 | 国产一区中文字幕 | 国产高清一区二区三区四区 | 成年免费大片黄在看 | 色多多成视频人在线观看 | 中国国产成人精品久久 | 精品在线免费观看视频 | 欧美一级黄色片免费看 | 日韩一级黄色大片 | 免费看一级视频 | 一区视频在线 | 朴妮唛19禁福利视频在线 | 免费看黄色a级片 | 视频在线观看一区二区三区 | 俄罗斯小屁孩和大人啪啪 | 免费的全黄一级录像带 |