--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates


Hot Links
China Development Gateway
Chinese Embassies


Criticism About Renminbi Refuted

China has refuted recent United States criticism about its exchange rate policy, reiterating its principles of independence and responsibility in handling the issue. 

"The exchange rate system and policy are a country's internal affair and no other country has the right to interfere," a spokesman for the State Administration of Foreign Exchange (SAFE) said yesterday. 

"On this issue, China has always been independent and highly responsible, on which the international community has long agreed." 

Speculation that the exchange rate of the Chinese currency, known as the renminbi or yuan, would appreciate under foreign pressure subsided after US Treasury Secretary John Snow's visit to Beijing earlier this month. He came to press the Chinese government to revalue the currency. 

But US Commerce Secretary Donald L. Evans soon stepped up criticism, accusing the country of backsliding on the promises to ease restrictions on foreign companies, dismantle trade barriers and clamp down on software piracy.

The SAFE spokesman reiterated that China will continue to maintain the basic stability of the renminbi's exchange rate, which he said has not only helped promote China's reform and opening-up and stimulated domestic demand, but also contributed to the fight against the Asian financial crisis. 

"It's proven that maintaining the basic stability of the renminbi's exchange rate benefits not only China, but also Asia and the world," he said.

US manufacturers complain that China has kept its exports artificially cheap by keeping the yuan undervalued against the dollar, resulting in losses of US manufacturing jobs. In Congress, lawmakers are pushing for legislation that would impose import tariffs on Chinese products comparable to the amount they claim China's currency is undervalued. 

"Any form of trade protectionism is unfair and a breach of World Trade Organization rules," the SAFE spokesman said. 

"One should not turn the exchange rate issue into an international political issue and use it as an excuse for trade protectionism." 

He said the employment problems in developed countries are unrelated to China's exchange rate policy. "Every country has its own structural adjustment, employment and reemployment problems," the spokesman said.  

"From 1998 to 2002, China's total secondary industry employment decreased by 8.2 million, but we never blamed any other country." 

He noted that the main reason for China's trade and capital account surpluses is globalization - especially the transfer of production by many multinationals to the Chinese market - in addition to its narrowing of the renminbi's floating range in 1997 as part of efforts to deal with the financial crisis. 

"We have never purposefully pursued a sizable surplus on the international balance of payments," the spokesman said. 

China's foreign trade surplus is declining. Its total trade surplus fell by 66.5 percent on a year-on-year basis to US$4.5 billion in the first half of the year, while its trade deficit with Japan more than tripled to US$6.7 billion. 

(China Daily September 23, 2003)

Analysis: Stable Renminbi Exchange Rate Crucial
Forbes: Keep Yuan Stable
Robert Mundell Urges to Maintain Stable Yuan
Influx of Hot Money Poses a Threat
Chinese Premier Says Stable RMB Benefits US and China
Need for Stable Currency Stressed
Experts Advise Against Staking on Appreciation of RMB
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 久久精品亚洲中文字幕无码网站 | 日产精品卡一卡2卡三卡乱码工厂| 亚洲最大综合网| 男女边摸边揉边做视频| 国产va免费精品高清在线 | 成人妇女免费播放久久久| 久久久国产精品四虎| 最近中文字幕2018| 亚洲人成亚洲人成在线观看| 欧美黑人巨大白妞出浆| 免费不卡中文字幕在线| 精品欧美成人高清在线观看| 国产三级免费观看| 青青青国产在线| 国产大片内射1区2区| 很黄很黄的网站免费的| 国产精品久久自在自线观看| 91自产拍在线观看精品| 多人伦精品一区二区三区视频| yy111111影院理论大片| 彩虹男gary网站| 中国国产成人精品久久| 手机在线观看精品国产片| 久久久久国产精品免费网站| 日韩一区二区三区精品| 久久精品国产亚洲AV麻豆王友容| 欧亚专线欧洲s码在线| 亚洲免费综合色在线视频| 欧美日韩精品一区二区三区高清视频 | 色妞视频资源在线观看| 国产亚洲综合精品一区二区三区| 黄床大片30分钟免费看| 国产成人av在线免播放观看| 国产免费插插插| 国产成人无码网站| 黑人借宿ntn神宫寺奈绪| 国产成年无码久久久久毛片| 欧美色图亚洲激情| 国产欧美va欧美va香蕉在线观看| 性宝福精品导航| 国产欧美日韩综合|