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

  Home>News Center>China
       
 

China takes another step towards flexible yuan
(Reuters)
Updated: 2006-01-04 19:54

Ma reckoned the central bank would allow the yuan to rise only slowly -- about 4 percent this year.

Even under the more restricted flexibility of the previous system, the currency never moved more than a tiny fraction of its permissible 0.3 percent each day.

Indeed, the first mid-rate quoted by the market makers, Wednesday's 8.0702 per dollar, was identical with previous close.

And the central bank was quick to dampen speculation of a further appreciation of the yuan, which the United States says is still seriously undervalued and gives Chinese goods an unfair advantage in global markets.

The central bank said it would keep the yuan stable for now.

OVER-THE-COUNTER TRADING

China revalued the yuan in July by 2.1 percent and dropped a dollar peg in favour of managing its value with reference to a basket of currencies.

The yuan has consistently trended higher since then, but in minuscule steps, gaining just 0.5 percent since revaluation.

"The (mid) rate will be near the yuan's previous day's close for now as market markers will be cautious and take hints from the central bank," said a dealer at a major Chinese bank.

"But it will drift away gradually to become a more independent rate along with the deepening of currency reforms."

Other changes launched on Wednesday supported the introduction of market makers -- banks who stand ready to trade when no one else wants to, keeping the market liquid.

Market participants would be allowed to trade openly over the counter, as is usual in foreign exchange markets elsewhere. The old system, which the central bank said would eventually be scrapped, automatically matches trades for anonymous bidders.

The 0.3 percent daily range applies to the dollar mid rate. The yuan is allowed to move further against other currencies.

The China Foreign Exchange Trade System will announce the daily mid rates against the U.S. dollar, euro, Japanese yen and Hong Kong dollar at 9.15 a.m. daily.


Page: 12



Ticket to ride
Giant pandas to land in Taiwan in June
Sewage leak creates hole in city road
  Today's Top News     Top China News
 

China reforms forex rate forming mechanism

 

   
 

Telephone subscribers to top 820m

 

   
 

Migrant dads return home suspicious

 

   
 

Green boost for Beijing in blueprint

 

   
 

Waterworks resumes supplies after spill

 

   
 

Bird flu outbreak reported in Sichuan

 

   
  China reforms forex rate forming mechanism
   
  Bird flu outbreak reported in Sichuan
   
  Green boost for Beijing in blueprint
   
  Cold front brings freezing fog, transport problems
   
  China commentator urges tougher line against Japan
   
  Telephone subscribers to top 820m
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
大悟县| 永川市| 合川市| 乳源| 定边县| 阿克陶县| 铁岭市| 霍林郭勒市| 韩城市| 格尔木市| 南投县| 称多县| 比如县| 剑阁县| 郑州市| 仪征市| 丰台区| 盐源县| 临湘市| 襄汾县| 榆林市| 襄樊市| 望江县| 花莲市| 衡东县| 霍州市| 都匀市| 全椒县| 库车县| 松溪县| 苗栗县| 济阳县| 庆阳市| 新津县| 大连市| 邻水| 陵川县| 南川市| 五寨县| 徐闻县| 循化|