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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Opinion
Home / Opinion / From the Press

Strong fundamentals lift yuan

China Daily | Updated: 2017-09-08 07:50

Strong fundamentals lift yuan

An employee at a bank counter in Nantong, East China's Jiangsu province, counts renminbi and dollars. [Photo/China Daily]

The yuan's middle rate rose to 6.5370 against the US dollar on Tuesday, up 298 basis points over the previous trading day's rate and the highest since July last year. It also marked the yuan's rise for seven consecutive business days, and a cumulative increase of 1,209 basis points.

A currency generally doesn't rise or fall unilaterally, particularly not the yuan, which is in the process of marketization and internationalization. As an emerging global currency just included in the International Monetary Fund's Special Drawing Rights basket, the yuan is in the process of perfecting its middle rate formation mechanism, meaning it has to face market challenges, including those from international short-sellers.

When China's monetary authorities launched a new round of exchange rate reforms in August 2015, the yuan suffered drastic short-term fluctuations in the following months because of short selling. The market prediction at the time was that the yuan would fall below 6.7, even 6.8, against the dollar. But the authorities took comprehensive measures that stabilized the yuan's exchange rate by the end of last year. One big advantage of the yuan's continuous rise in recent months is that it has ruined short-sellers' plans to make profits from its continuous fall.

China's stable macroeconomic growth and supply-side structural reform have laid a solid foundation for sustainable economic growth. And thanks to China's still impressive economic performance, the IMF and other financial institutions expect better growth this year and the next. China's still high growth and its strong economic fundamentals, as well as the yuan's internationalization process have driven up the Chinese currency's value.

China's intensified efforts to reform its financial market and open up its capital market, its strict regulation to prevent the flight of capital, and the depegging of the yuan from the dollar are the reasons why the market expects the yuan to continue its rise.

The fluctuation of the yuan due to its marketization and internationalization is normal. Still, China has enough foreign exchange reserves to maintain the yuan's basic stability even in any eventuality.

- BEIJING YOUTH DAILY

Most Viewed in 24 Hours
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
主站蜘蛛池模板: 欧美日韩一区二区不卡 | 手机在线播放av | 午夜69成人做爰视频 | 国产区91 | 国产伦精品一区二区三区免费 | 国产精品成人一区二区网站软件 | 国产精品乱码久久久 | 情侣av | 国产毛片在线看 | 欧美一区二区在线视频 | 操穴av| 日本少妇一区二区三区 | 日韩aaaaaa| 国产一级片免费观看 | 久久久伊人网 | 国产精品福利影院 | 不卡视频一区 | 国产不卡在线观看视频 | 99自拍偷拍 | 精品久久网站 | 成人免费网站在线观看 | 国产高清视频一区二区 | 综合免费视频 | 精品视频亚洲 | jlzzjlzz亚洲女人 | 黄色av免费 | www中文字幕 | 欧美成年人 | 欧美激情影院 | 成人激情视频在线观看 | 一区日韩| 天天曰天天操 | 97精品一区 | 日本在线一区 | 亚洲天堂五月天 | 九九九精品视频 | 亚洲骚 | 色婷婷精品 | 成人国产在线视频 | 欧美成人自拍视频 | 狠狠干中文字幕 |