综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

Business / Markets

PBOC vice governor: China has confidence and patience in yuan

(chinadaily.com.cn) Updated: 2016-02-29 11:29

PBOC vice governor: China has confidence and patience in yuan

People's Bank of China Deputy Governor Yi Gang attends a conference during the 2016 IIF G20 Conference at the financial district of Pudong in Shanghai, China, February 25, 2016. [Photo/Agencies]

The market should not overreact to the Chinese currency renminbi, or the yuan's, fluctuation, said Yi Gang, vice governor of China's central bank.

He?made the remarks during an interview with the Xinhua News Agency on Sunday, after the G20 Finance Ministers and Central Bank Governors Meeting in Shanghai.

The exchange rate mechanism is one of the topics of the two-day meeting, Yi said, adding that the wording used in the meeting's communique, such as "we will consult closely on exchange markets," is unprecedented, highlighting the attention paid by the members to recent exchange rates’ volatility.

The meeting sent a clear signal that the group will "refrain from competitive devaluations," which will help alleviate concerns over a "currency war," Yi said.

In terms of the yuan exchange rate, Yi said, although the yuan's flexibility has increased, its fluctuation range is still smaller than many other currencies in developed economies, and much less than emerging markets. "Markets should not overreact to the yuan's fluctuation", he said.

Speaking on concerns over capital outflow, Yi said the recent drop in China's foreign exchange (FX) reserves was mainly due to a rise of FX assets in residential accounts and a reduction of FX liabilities, which are not likely to last for long.

Yi added that the yuan exchange rate was also affected by some short-term speculations. "We have full confidence in the yuan's fundamentals and believe that the yuan exchange rate fluctuation will be based on its fundamentals, rather than short-term expectations," the vice-governor said, adding that China has patience in this aspect.?

The meeting has reached three consensuses on the global economy, Yi said.

First, global economic risk is accelerating, which makes G20 members work together to increase policy communication and coordination.

Second, the market should not be overly pessimistic. G20 members recognized that there are growing concerns of further downward risks; meanwhile, fundamentals of the global economy are not too bad. The financial market is probably overreacting, and may be too pessimistic.

Third, G20 members should work together to strengthen global economic recovery.

Xinhua contributed to this story.

Hot Topics

Editor's Picks
...
尼木县| 偃师市| 遂平县| 延吉市| 谢通门县| 南丰县| 姜堰市| 齐齐哈尔市| 临汾市| 新营市| 十堰市| 盐津县| 蓬溪县| 西平县| 宁城县| 天峨县| 东台市| 蕲春县| 九龙县| 鹤山市| 红原县| 德保县| 日照市| 濮阳市| 江门市| 丰县| 阿克| 山阴县| 兴隆县| 定襄县| 甘泉县| 盐边县| 富锦市| 岳池县| 舒兰市| 新乡市| 遵义县| 阳山县| 璧山县| 宁波市| 吉木乃县|