Chinese School - No fixed timetable for reforming the RMB

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P
hotos

��Search

  China Observer

�� Blogosphere a new spiritual home for urban youths

�� IPO Pricing Inquiry is hurting, not helping, the market

�� 2004 Statistical Communiqu�� of China

  Photos

�� China Int'l Classic Car Show

�� Australian Branch of CCPPR established

�� Chiru, mascot candidate for Beijing Olympic

��Home>>Business

No fixed timetable for reforming the RMB

www.chinanews.cn 2005-03-07 12:41:48

Chinanews Beijing, Mar. 5 (By Wen Yumin) - Guo Shuqing, director of the
State Administration of Foreign Exchange, stated today that there would
be no fixed timetable for reforming the RMB exchange rate and the RMB
would not be allowed to fluctuate freely at present.
Guo ShuQing said that many countries' exchange rate systems fluctuated
freely during the Asian Financial Crisis, but China had always insisted
on a managed floating exchange rate system.
He said that China would not frequently change its foreign exchange
reserve structure, but that did not mean everything was set in stone. He
said that forex reserve was a long-term strategic reserve with the goal
of preventing international payment crisis and systemic operational
risks. Therefore, all investment strategies, including the currency
structure and the asset structure, should be very prudent.
The fluctuation of the US dollar would not exert significant influence on
China's foreign exchange reserves, Guo said. According to him, foreign
exchange reserves were always subject to the risks of exchange rate
fluctuation.

          ��RMB valuation trend:no timetable set for next year
(2004-12-24)
          ��RMB popular among China's neighbors (2005-02-25)
          ��RMB interest rate begins to cool off (2005-02-24)
          ��G7 meeting expected to find it hard to force RMB appreciation
(2005-02-01)
          ��Soros opposed excessive pressure on RMB (2005-02-01)
          ��Wrong timing for adjusting the RMB (2005-01-27)
          ��RMB Appreciation to create its own bubble? (2005-01-20)

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

Copyright� 2004 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service

Learn Chinese, Free Chinese Lesson, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, Beijing 2008 Olympics, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing, Travel to Tibet