Is China resuming yuan appreciation? (3)

08:18, April 09, 2010      

Email | Print | Subscribe | Comments | Forum 

Zhang Ming, an economist with the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, expected the country to resume the pre-crisis exchange rate policy in the second quarter of the year and said a widening daily trading band for the yuan is also likely.

At present, the yuan is allowed to float on the interbank market within a daily limit of 0.5-percent each way of the central parity rate.

Many western countries have long held that China artificially keeps the yuan exchange rate undervalued to help domestic exporters. Some U.S. lawmakers even proposed legislation to impose tariffs on Chinese goods unless China allowed the yuan to climb.

China has repeatedly rejected claims the yuan is undervalued and said it would keep the yuan stable at an appropriate and balanced level, stressing a stronger yuan cannot redress China-U.S. trade imbalance or help ease U.S. job losses.

Source: Xinhua

【1】 【2】 【3】


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion