Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    China takes firm steps to prevent exchange rate overshooting: central bank governor

    Xinhua | Updated: 2024-06-19 16:21
    Share
    Share - WeChat
    Pan Gongsheng, governor of the People's Bank of China, during the 15th Lujiazui Forum in Shanghai, June 19, 2024. [Photo/VCG]

    SHANGHAI -- China has taken firm steps to prevent the risks of exchange rate overshooting, said Pan Gongsheng, governor of the People's Bank of China, on Wednesday.

    The RMB exchange rate has remained basically stable in complicated circumstances, Pan said at the 15th Lujiazui Forum held in Shanghai.

    Entering this year, the major advanced economies have postponed, yet again, their monetary policy reversal timing and the China-US interest rate spread has continued to be relatively high, he added.

    Letting the market play a decisive role in the formation of exchange rates, China's central bank has maintained the flexibility of the exchange rate, while strengthening guidance of expectations and taking firm steps to prevent the risks of exchange rate overshooting, Pan said.

    Through sustained efforts over the years, China's foreign exchange market has achieved substantial progress, with market participants becoming more mature and transacting in a more rational manner, he noted.

    An increasing number of business entities are using the tools for exchange rate risk hedging, Pan said, adding that as the RMB cross-border receipts and payments now account for 30 percent of trade in goods, the exposure of enterprises to currency exchange risks has been reduced.

    Pan said China is also more experienced in coping with foreign exchange market fluctuations.

    As major economies are gradually reversing their monetary policies this year and the dollar appreciation is weakening, the difference between the monetary policy cycles at home and abroad is narrowing, he said.

    These factors combined will help keep the RMB exchange rate basically stable and balance cross-border capital flows, thereby gaining more space for China's monetary policy maneuvers, Pan said.

    Top
    BACK TO THE TOP
    English
    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
    CLOSE
     
    久久久久亚洲av无码专区喷水| 人妻无码αv中文字幕久久琪琪布| 日韩乱码人妻无码中文字幕视频 | 亚洲国产精品无码专区影院 | 亚洲国产精品无码久久SM| 亚洲中文字幕无码久久2020| 日韩精品无码一区二区三区免费| 日韩免费码中文在线观看| 在线看福利中文影院| AV无码人妻中文字幕| 亚洲熟妇无码八AV在线播放| 最近2019好看的中文字幕| 亚洲AV无码乱码在线观看性色扶 | 国产乱码精品一区二区三区中文 | 亚洲AV无码专区在线播放中文| 色噜噜亚洲精品中文字幕| 精品无码人妻一区二区三区品 | 久久久久久精品无码人妻| 中文字幕色AV一区二区三区| 免费VA在线观看无码| 久久久久久国产精品免费无码 | 日韩乱码人妻无码系列中文字幕| 亚洲精品97久久中文字幕无码| 久久亚洲精品中文字幕 | 中文字幕人妻无码系列第三区| 成人无码精品1区2区3区免费看| 亚洲国产精品无码久久一区二区| 人妻少妇无码精品视频区| 亚洲国产综合精品中文字幕| 中文字幕在线观看日本| 天堂а√中文在线| 日本久久久精品中文字幕| 中文字幕无码第1页| 99久久超碰中文字幕伊人| 日韩乱码人妻无码中文字幕久久| 欧美日韩亚洲中文字幕一区二区三区| 青春草无码精品视频在线观| 天堂无码在线观看| 久别的草原在线影院电影观看中文| 欧美 亚洲 有码中文字幕| 无码超乳爆乳中文字幕久久|