Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road
Economy

China capable of keeping RMB exchange rate stable: central bank

May 24, 2019


Abstract : A senior central bank official on Thursday reiterated that China is "capable and confident" of keeping the renminbi exchange rate generally stable on a reasonable and balanced level.

BEIJING, May 23 (Xinhua) -- A senior central bank official on Thursday reiterated that China is "capable and confident" of keeping the renminbi exchange rate generally stable on a reasonable and balanced level.

China has gained much experience in dealing with exchange rate fluctuations and has many policy tools available. China will strengthen macro prudential regulation and stabilize market expectations, Liu Guoqiang, vice governor of the People's Bank of China, said in an interview.

Liu's comments came after renminbi depreciated against the U.S. dollar recently due to U.S.-China trade tensions.

Given China's sound economic fundamentals, great resilience and huge potential, Liu believes that it is unlikely to see a currency crisis in the country.

"Sound economic fundamentals will continue to bolster the renminbi exchange rate. From international experience, currency crisis hardly happen in big countries. As the world's second largest economy, China has proper macro regulation and effective market mechanism, so there is no basis for a currency crisis," he noted.

China will continue to deepen reforms, add vitality to the economy, strike a balance between ensuring stable growth and preventing risks, promote the opening up of the financial sector, and optimize the structure of the financial system to ensure the renminbi exchange rate stays generally stable, Liu said.

Scan the QR code and push it to your mobile phone

Keyword: China RMB exchange-rate

Reading:

China's solar industry expected to become subsidy-free by 2021: newspaper

Environment-related patent applications in China up over past decade: newspaper

China Southern Airlines sees potential to expand tourism exchange with Mexico

China unveils 600 kph maglev train prototype

China to hail new round of infrastructure construction spree

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial