e-magazine
The Hot Zone
China's newly announced air defense identification zone over the East China Sea aims to shore up national security
Current Issue
· Table of Contents
· Editor's Desk
· Previous Issues
· Subscribe to Mag
Subscribe Now >>
Expert's View
World
Nation
Business
Finance
Market Watch
Legal-Ease
North American Report
Forum
Government Documents
Expat's Eye
Health
Science/Technology
Lifestyle
Books
Movies
Backgrounders
Special
Photo Gallery
Blogs
Reader's Service
Learning with
'Beijing Review'
E-mail us
RSS Feeds
PDF Edition
Web-magazine
Reader's Letters
Make Beijing Review your homepage
Hot Links

cheap eyeglasses
Market Avenue
eBeijing

Latest
Special> Coping With the Global Financial Crisis> Latest
UPDATED: December 1, 2009
Chinese Minister: Stability of Yuan Good for World Recovery
China will maintain the stability of its currency exchange rate all along
Share

China will maintain the stability of its Renminbi (RMB) exchange rate all along, which does good for the world economic recovery, Commerce Minister Chen Deming said on Monday.

China's exchange rate reform has continued smoothly, and the value of RMB has risen by some 20 percent against the U.S. dollar since 2005, Chen told reporters in Geneva, where he is attending a ministerial conference of the World Trade Organization.

Despite the impact of the global financial crisis and all kinds of other difficulties, the Chinese government has actively tried to boost domestic consumption and stimulate imports, Chen said.

Maintaining a relatively stable RMB exchange rate serves the need of China's economic development as well as the world's economic stability, he added.

According to the minister, China's foreign trade surplus is expected to drop by more than a third to 190 billion dollars this year from last year's 290 billion dollars.

Chen also urged the world's major reserve currencies to remain stable. He said the continuous depreciation of these currencies had caused much difficulty for the world economy, and that the attempts to transfer the difficulty to other countries are unjustifiable.

(Xinhua News Agency December 1, 2009)



 
Top Story
-Protecting Ocean Rights
-Partners in Defense
-Fighting HIV+'s Stigma
-HIV: Privacy VS. Protection
-Setting the Tone
Most Popular
 
About BEIJINGREVIEW | About beijingreview.com | Rss Feeds | Contact us | Advertising | Subscribe & Service | Make Beijing Review your homepage
Copyright Beijing Review All right reserved