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RMB appreciation a certainty

www.chinanews.cn 2005-03-31 11:43:58

Chinanews, Mar. 30 - The world's oil and ore prices increased
significantly; real estate prices also grew slightly. RMB exchange rate
policy reform is in the offing, and RMB appreciation is simply a matter
of when and how, said Zhao Xijun, vice director of the Financial and
Securities Institute of the People's University of China.
"Our objective in terms of reform is to have a market-based, managed and
floating exchange rate. When we consider reform plans, our purpose is to
make the exchange rate more responsive to supply and demand in the
market," stated Premier Wen Jiabao during an NPC press conference on Mar.
14th. "Regarding the timing of the reform or specific measures, maybe
they will come unexpectedly," he continued.
As for the range of RMB appreciation, financial experts believe that the
Chinese currency will appreciate by about 5% to 20%. Overseas investment
banks expect a higher range than Chinese experts. However, most
economists agree that the RMB should appreciate and that the existing
RMB-USD pegged exchange rate mechanism will hinder China's development.

          ��RMB exchange rate reform to be launched (2005-03-21)
          ��RMB appreciation: causes and consequences (2005-03-21)
          ��Expert: RMB will appreciate but no fixed timetable
(2005-03-10)
          ��No fixed timetable for reforming the RMB (2005-03-07)
          ��RMB interest rate begins to cool off (2005-02-24)
          ��Soros opposed excessive pressure on RMB (2005-02-01)
          ��Wrong timing for adjusting the RMB (2005-01-27)

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8610-68327649

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