Yuan advances before meeting of G20 leaders

    Updated: 2011-11-04 10:10

    (China Daily)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    Yuan advances before meeting of G20 leaders

    The G20 is debating whether to include a reference to China's currency in a joint statement by leaders following their two-day summit, according to an official from one of the nations in the group. [Photo/ China Daily]

    China's central bank says govt open to increased flexibility of renminbi

    HONG KONG - China's yuan on Thursday advanced the most in a week before the G20 summit. The reference rate strengthened 0.16 percent to 6.3198 a dollar, the highest level since July 2005.

    The government remains open to increased flexibility of the yuan, Zhang Tao, director general of the international department of the People's Bank of China, said on Wednesday before the meeting in Cannes, France. Inflationary pressure in China is still high, Phoenix News Media reported on Wednesday, citing Vice-Minister of Finance Li Yong.

    "The record fixing reflects China's confidence in its economic growth prospects and its determination to fight inflation," said Banny Lam, a Hong Kong-based economist at CCB International Securities Ltd, a unit of China's second-largest lender. "A stronger exchange rate is in line with China's goal to make the yuan a global currency."

    The yuan advanced 0.09 percent to close at 6.3514 a dollar in Shanghai, according to the China Foreign Exchange Trade System. The currency is allowed to trade up to 0.5 percent either side of the reference rate.

    "The yuan fixing is too high and investors are buying dollars in the market on expectations the greenback may strengthen further," said Liu Dongliang, a Shenzhen-based senior analyst at China Merchants Bank Co, the nation's sixth-largest lender.

    Yuan flexibility

    The G20 is debating whether to include a reference to China's currency in a joint statement by leaders following their two-day summit, according to an official from one of the nations in the group. A draft of the communique singled out China as needing to allow more flexibility in its currency to help ease alleged global trade and investment imbalances, the official said on condition of anonymity because discussions on the statement haven't finished.

    The official wasn't convinced the citation will remain in the final version because of opposition.

    In Hong Kong's offshore market, the yuan slipped 0.11 percent to 6.3963 a dollar, after gaining 0.23 percent on Wednesday. Twelve-month non-deliverable forwards on the yuan declined 0.07 percent to 6.3745, a 0.4 percent discount to the onshore rate.

    Yuan deposits in Hong Kong may have recorded a "sizable decline" in October as investor demand for the currency dropped on global economic instability, HSBC Holdings PLC said in a report dated on Wednesday. Investors could bet on yuan appreciation using "short-end" non-deliverable forwards rather than by purchasing the currency in the offshore market, the bank said.

    Consumer prices rose 6.1 percent in September from a year earlier after having increased 6.2 percent in August, according to official data. The inflation rate has exceeded the government's annual target of 4 percent a month this year.

    Bloomberg News

    亚洲日韩中文无码久久| 久久亚洲AV成人无码电影| 久久亚洲精品无码AV红樱桃| 精品久久久久久无码中文字幕| 粉嫩高中生无码视频在线观看| 日韩区欧美区中文字幕| 亚洲精品无码99在线观看| 亚洲V无码一区二区三区四区观看 亚洲爆乳精品无码一区二区三区 亚洲爆乳无码一区二区三区 | 亚洲AV无码成人精品区大在线| 亚洲日韩欧洲无码av夜夜摸| 久久精品中文字幕第23页| 亚洲人成无码网WWW| 国产精品va在线观看无码| 无码人妻丰满熟妇区免费| 波多野结衣在线aⅴ中文字幕不卡| 成人无码小视频在线观看| 久久久久久亚洲Av无码精品专口| 日韩a级无码免费视频| 天堂√最新版中文在线天堂| 亚洲AV无码乱码精品国产| 成人免费无码H在线观看不卡| 无码永久免费AV网站| 亚洲AV永久无码精品水牛影视| 最近免费中文字幕中文高清| 最近中文国语字幕在线播放| 免费A级毛片无码A∨中文字幕下载| 亚洲AV无码乱码在线观看性色扶 | 久久精品国产亚洲AV无码偷窥| 中文字幕日韩精品无码内射| 无码av高潮喷水无码专区线| 娇小性色xxxxx中文| 久久久久久久久久久久中文字幕| 亚洲欧美综合在线中文| 大地资源中文在线观看免费版| 中文字幕人妻无码系列第三区| 制服丝袜人妻中文字幕在线| 亚洲不卡中文字幕无码| 中文字幕亚洲综合久久2| 中文字幕亚洲一区二区va在线| 国产丰满乱子伦无码专区| 亚洲VA中文字幕无码一二三区|