NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Current Home > Business > Biz Headlines
Yuan appreciation not certain: central banker
Latest Updated by 2006-08-08 10:38:51
Related News
RMB exchange rate hits post-revaluation high
No sufficient condition for large-range RMB appreciation currently
Guangdong Finance Department allocates 136.6 million Yuan for relief fund
Market value of Chinese shares drops 400b yuan
Business News
Yuan appreciation not certain: central banker
Gold bonanza as profits up 53.21%
New property policy aims to deter hot overseas money

The economy faces considerable uncertainty so appreciation of the yuan is not inevitable, the Shanghai Securities News quoted a deputy governor of the central bank as saying.

In comments to reporters at a financial conference, Wu Xiaoling said domestic companies should learn to manage risk rather than counting on the currency to move in a single direction, the newspaper said Saturday.

"Currency movements mainly reflect changes in supply and demand in the market," Wu said, adding that domestic firms should hedge their currency risk by using derivatives in the same way as foreign companies.

China has developed a market in currency options over the past year, but many firms are reluctant to use it because they lack expertise. Many assume that the yuan will continue the gradual but steady appreciation against the U.S. dollar of the past year, which exposes them to risk if the market changes.

Wu was also quoted as saying that the central bank was not concerned about a lack of liquidity in the stock market, which has fallen around 11 percent from its early July peak because of tighter monetary policy and a flood of initial public offerings.

"It does not lack money, what it lacks is confidence," she said.

Editor: Donald

By: Source: Szdaily web edition
Previous:    Next:Gold bonanza as profits up 53.21%


2008 Olympic's preparation work processing well


Foreign teens wrap up goodwill tour


[Group Photo]The New Yuan Ming Palace in Zhuhai


Phase III of Pazhou Exhibition Complex


Sao Paulo fashion week
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips