Related News
Stability vital for exporters
By Ding Yining |
April 20, 2009, Monday
|
Print Edition
Print Edition
CHINA will continue to ensure the yuan is stable to favor its exporters, analysts said.
The Chinese currency edged up against the United States dollar last week and ended at 6.8311 last Friday, according to the China Foreign Exchange Trade System. The yuan ended at 6.8347 at the end of the previous week.
"The yuan's reference rate, used by the central bank, was set stronger in line with a weaker dollar in global markets," said Gong Chao, a Beijing-based dealer at the Bank of China, when he commented on the slight rise of the yuan against the greenback. "The government will stick to a stable currency policy at least in the first half of the year" in order to help its exporters.
At the opening ceremony of the Boao Forum for Asia on Saturday, Premier Wen Jiabao said "the government's stimulus package is already paying off, and positive changes have taken place in the economy."
Wen also noted the world economic recession is here to stay for some time and problems in the financial system are still not resolved.
The Chinese currency edged up against the United States dollar last week and ended at 6.8311 last Friday, according to the China Foreign Exchange Trade System. The yuan ended at 6.8347 at the end of the previous week.
"The yuan's reference rate, used by the central bank, was set stronger in line with a weaker dollar in global markets," said Gong Chao, a Beijing-based dealer at the Bank of China, when he commented on the slight rise of the yuan against the greenback. "The government will stick to a stable currency policy at least in the first half of the year" in order to help its exporters.
At the opening ceremony of the Boao Forum for Asia on Saturday, Premier Wen Jiabao said "the government's stimulus package is already paying off, and positive changes have taken place in the economy."
Wen also noted the world economic recession is here to stay for some time and problems in the financial system are still not resolved.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
