国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Yuan gains 34% against USD, what next?

Xinhua | Updated: 2013-07-22 13:34
Li Daokui, a former advisor to China's central bank, said the yuan's appreciation rebalances Chinese foreign trade and pushes forward industrial restructuring.

The ratio of China's current account surplus to its GDP has dropped from more than 10 percent in 2007 to 2.6 percent in 2012, the lowest level since 2005, and below the internationally recognized alarm level of 4 percent.

A rising yuan has reshaped the export businesses in China, the world's largest exporter. As the currency appreciated at an annual pace of 4 percent, some export companies with a low profit margin of less than 10 percent were forced out of business.

Zhang Bin, an economic researcher with the Chinese Academy of Social Sciences, said while the yuan appreciated against other currencies in the past eight years, it depreciated in the domestic market, as evidenced by the rising property and consumer prices.

The continuous yuan appreciation has triggered inflows of cross-border capital for arbitrage activities. With more capital inflows, the central bank has to boost the yuan funds in the foreign exchange market to purchase foreign currency.

Figures showed that China's M2, a broad measure of money supply that covers cash in circulation and all deposits, has more than tripled since 2005 to 100 trillion yuan in April this year. The abundant liquidity is blamed for fueling asset bubbles.

Liu Ligang, chief greater China economist at ANZ Banking Group, said that expectation for the yuan's further appreciation is weakening.

China's total yuan funds outstanding for foreign exchange declined in June, marking the first net outflow of capital since December last year, as a result of the tumble in China's export, the US Federal Reserve's plan to taper off QE3 and the weakening expectation of a rising yuan.

Liu said it is highly likely that the yuan will depreciate in the coming months.

 

Previous 1 2 Next

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
 
五华县| 桂东县| 竹北市| 宕昌县| 张掖市| 贵南县| 平乐县| 德州市| 敖汉旗| 同德县| 威海市| 武清区| 北流市| 苏尼特左旗| 河池市| 大洼县| 什邡市| 陈巴尔虎旗| 千阳县| 乐清市| 泸西县| 青冈县| 重庆市| 鄂托克旗| 石屏县| 安达市| 田阳县| 平泉县| 南召县| 贵州省| 晋州市| 盱眙县| 丹江口市| 岳普湖县| 莆田市| 绵竹市| 白朗县| 中西区| 德清县| 新安县| 新津县|