China must keep monetary policy independence - commerce ministry |
|
|
|
Published
:
Tue, 16 Jan 2007 03:51
|
SHANGHAI (XFN-ASIA) - China must keep its monetary policy independent from its exchange rate policy, given the current sharp appreciation pressure on yuan, the commerce ministry said in the second section of a two-part report.'Considering the substantial appreciation pressure ...we need to send a clear message to the outside world that we are firmly safeguarding the independence of our monetary policy and must not make it appendant to exchange rate policy', the ministry said in the report published on its website.It reiterated the view that China should take a gradual and independent approach to appreciation of the yuan.'A gradual appreciation involves little risks and greatest efficiency,' it said.The ministry said yesterday in the first part of the report that it expects the yuan to rise a further 4-5 pct this year, ending 2007 at about 9-10 pct higher to the US dollar than before it was revalued in July 2005.(1 usd = 7.80 yuan)qionghui.feng@xinhuafinance.com
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1423.08 |
+25.01 (
1.76 %)
|
| SYMBOL (
2008-12-02 ) |
| LAST |
CHANGE
|
|
CARNIVAL
(
11:35am )
|
|
1347.00 |
+51.00 (
4.02 %)
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
| SYMBOL (
2008-12-02 )
|
| LAST |
CHANGE
|
|
GOOGLE
(
2:50pm ) |
|
268.66 |
+2.67 (
0.99 %)
|
|
|
Print this Story
China 2006 actual FDI down 4.06 pct at 69.47 bln usd - commerce ministry -UPDATE 