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PBC to continue increasing flexibility of RMB exchange rate
Latest Updated by 2006-08-08 11:39:27
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In a bulletin recently issued by China's central bank, People's Bank of China (PBC), the PBC states China's intention to continue enhancing the flexibility of Renminbi exchange rate and calls for close attention to excessive increase of credit in China's domestic economy.

Meanwhile, PBC says that Chinese authorities should pay very close attention to the important economic index in order to prevent a fast growing economy from turning into an overheated one. From an overall point of view, PBC says, although price level in China keep relatively stable, the possibility of inflation still exists since China has a fast growing economy with a stable and considerate increase of 10% and investment in China is rising dramatically, against a continuously growing global economy.

Editor: Donald

By: Source: People's Daily website
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