日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

A step forward to marketize yuan's exchange rate

By Li Yang (chinadaily.com.cn) Updated: 2014-03-18 21:14

The People's Bank of China's third adjustment of the yuan's daily trading range is in line with the direction of China's market reform, according to an article by China Business News. Some excerpts:

PBOC said on March 15 that renminbi's exchange rate against the US dollar will be allowed to rise or fall 2 percent from a daily midpoint rate it sets each morning. The change was in place from March 17.

This is the third time for China's central bank to enlarge yuan's daily trading range since 2005, another stride for China to marketize its currency's exchange rate.

PBOC enlarged the range from 0.3 percent to 0.5 percent in May 2005, and to 1 percent in April 2012.

Exchange rate is an important factor influencing the allocation of foreign and domestic resources. Enlarging the floating range of yuan's exchange rate can effectively boost the flexibility of renminbi's exchange rate, optimize the distribution efficiency of capitals, and play up the market's roles.

But the limited scope of the change shows the central bank is considerably prudent. Analysts predicted the change would be 2.5 percent to 3 percent. The final decision on 2 percent indicates the central bank intended to carry out the reform step by step.

As the central bank explained: "The adjustment gives a full consideration to the adaptive capacity of the Chinese economy, and the change falls in the tolerable scope of various main market players."

This is also a style that the market is familiar with. The formation mechanism of renminbi should be reformed step by step in a controllable way.

The condition of a nation's current account is an important criterion for judging whether its currency's exchange rates are reasonable. Zhou Xiaochuan, governor of PBOC, revealed recently that reforms of the exchange rate, foreign exchange administration and other areas should be carried out now. It seems China's central bank has already seen now as an opportunity to promote exchange rate reform.

Renminbi has continuously appreciated against the US dollar for years. After China deepens its market reform of yuan's exchange rate, renminbi will fluctuate with increasing volatility against the greenbacks.

PBOC will reduce its intervention with the exchange rate. China is moving closer to its target of building a managed floating exchange rate mechanism based on market supply and demand.

China should do more than the adjustment. The government should create better conditions and environment for the development of risk management, risk hedging and investment products, improve the market-maker system, further develop the foreign exchange market and financial products of foreign exchange, and help import and export enterprises and cross-border investment agencies to hedge the exchange rate risk and interest rate risk.

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 国产极品粉嫩 | 激情久久婷婷 | 中文字幕高清在线观看 | 日本黄色免费看 | 日日夜夜影院 | www.久久精品视频 | 国产精品久久久视频 | 黄色免费观看网站 | 亚洲色图都市激情 | 精品一二区 | 国产精品最新 | 射黄视频| 毛片在哪里看 | 三级国产在线观看 | 亚洲一区av | 欧美经典一区二区三区 | 国产精品每日更新 | 欧美xxxx狂喷水欧美喷水 | av网站免费在线观看 | a在线观看免费 | 一区在线看 | av在线网页 | 欧美视频一二三区 | 日本免费一级片 | 日韩精品一 | 亚洲一级精品 | 91亚洲国产成人精品一区二区三 | 最新日本中文字幕 | 69精品视频 | 中文字幕日本一区 | 成人深夜网站 | 亚洲一卡二卡在线 | 男人天堂视频在线观看 | 国产精品久久久久久网站 | 日本在线观看一区二区三区 | 欧美另类日韩 | 91精品久久久久久粉嫩 | 亚洲综合婷婷 | 成人激情视频在线播放 | 国产三级精品三级在线观看 | 99色婷婷|