Arab Today, arab today china to ‘strengthen’ yuan’s trading flexibility
Last Updated : GMT 05:29:07
Arab Today, arab today
Arab Today, arab today

China to ‘strengthen’ yuan’s trading flexibility

Arab Today, arab today

Arab Today, arab today China to ‘strengthen’ yuan’s trading flexibility

Shanghai - Arabstoday

China will make the yuan more flexible in either direction and its recent reforms to make the currency more market-oriented have begun to achieve some results, Premier Wen Jiabao said on Saturday.  Wen’s comments underscored Beijing’s intention to introduce two-way fluctuations in the yuan to dampen expectations that China’s currency could only appreciate.  Pointing to recent bets in overseas markets that had caused the yuan to hit the bottom end of its trading band a number of times, Wen said such fall in the yuan “could not have been engineered.”  “China will continue to closely monitor the yuan’s trading movements ... and will strengthen yuan’s trading flexibility in either direction,” Wen was quoted as saying in an evening news bulletin on state broadcaster CCTV.  Chinese leaders have repeatedly rejected calls from the United States and other rich countries to allow faster yuan appreciation.  Analysts said China appears to have quietly adjusted its currency policy in response to the deepening eurozone debt crisis, slowing the yuan’s steady appreciation while trying to nip speculation of yuan depreciation. The balancing act comes as inflationary pressures come off the boil and economic growth slows in the world’s second-largest economy, giving Beijing more room to fine-tune policy. The central bank allows the yuan to rise or fall 0.5 per cent from its daily mid-point. Some analysts believe that China may opt to widen the yuan’s trading band only when upward pressures on the currency ease in line with a narrower trade surplus and lower capital inflows. China’s economy is moving up the value chain and its currency could “mount a challenge” to the US dollar in five to ten years, a congressionally created commission reported recently. Gone are the days when Beijing was content to be the low-end factory of the world, the US-China Economic and Security Review Commission said in its 2011 report to the US Congress. China’s planners are intent on joining the realm of advanced technology products. high-end research and development and next-generation products, the bipartisan, 12-member body said in a 406-page report. “Similarly, it no longer seems inconceivable that the RMB could mount a challenge to the dollar, perhaps within the next five to 10 years.”

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to ‘strengthen’ yuan’s trading flexibility Arab Today, arab today china to ‘strengthen’ yuan’s trading flexibility

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday