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China Says It May Be Flexible With Yuan
By BLOOMBERG NEWS
Published: January 8, 2007
China may increase the flexibility of the yuan should the country’s trade surplus continue to expand this year, China’s central bank governor, Zhou Xiaochuan, said yesterday.
“The data from 2006 show that China’s trade surplus has been increasing, and if this situation continues, then I think the flexibility of the exchange rate will be increased,” Mr. Zhou told reporters in Basel, Switzerland, during the bimonthly meeting of central bank governors from the Group of 10 nations.
Booming exports have driven an almost eightfold increase in China’s trade surplus in the last five years, according to economic analysts, spurring tensions with trading partners and challenging President Hu Jintao’s efforts to cool investment in the world’s fastest-growing major economy. The United States and Europe have threatened sanctions, accusing China of keeping its currency undervalued to maintain cheaper exports.
Mr. Zhou, who met with Treasury Secretary Henry M. Paulson Jr. in Beijing last month for the inauguration of the so-called Strategic Economic Dialogue between China and the United States, has said he wants to increase the flexibility of the yuan at a gradual pace. American lawmakers want faster moves.
China’s government indicated on Dec. 7 that its trade surplus might swell by almost two-thirds to a record high of $168 billion this year. |
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发表于 2007-1-10 07:00:10
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发表于 2007-1-10 08:25:04
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