The RMB will Appreciation?
BEIJING, October 15 Xinhua on the 15th of Commerce held a regular press conference, the Ministry of Commerce spokesman YAO Jian said that the renminbi exchange rate, China will adhere to the initiative, controllability and gradual reform of the principle of exchange continue to advance.
It is reported that the recent appreciation of the renminbi to increase Western pressure on topics of widespread concern. According to central bank data released on the 14th showed that three quarters of the country’s foreign exchange reserves increased 326.6 billion U.S. dollars, up by 50.7 billion U.S. dollars less, of which foreign exchange reserves in September increased 61.8 billion U.S. dollars.
When asked about the “trade friction is aimed at making the yuan appreciation,” the issue, YAO Jian, said the financial crisis in the countries concerned because of the economic contraction, employment effects, especially competition from similar products, have launched a trade remedy measures, I think this is against the background of financial crisis, a source of trade remedy measures. Of course, with the development of China’s exports, our export trade surplus increased in the past three to five years, but also the countries concerned to take remedial measures against China, or protectionist measures.
YAO Jian said that this year, exports have continued to decline after the pick up, which depends on the two sides, namely on the strength of domestic economic policies, especially in the domestic market for the better. At the same time, the international market has shown steady trend, in such a scenario of China’s exports break through 100 billion U.S. dollars for three consecutive months. As for the RMB exchange rate issue, I think China will adhere to the initiative, controllability and gradual reform of the principle of exchange to be carried forward.
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