China Is Not In A Hurry To Prevent RMB Depreciation.

P, an official of the people's Bank of China, as well as a number of bankers and analysts, shows that Beijing will not seek to prevent the depreciation of the renminbi in the near future.

HSBC points out that the RMB exchange rate, which is strictly controlled by the mainland, has depreciated by 2.3% against the US dollar this year.

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< p > reported that RMB a href= "//www.sjfzxm.com/news/index_c.asp" > exchange rate < /a > was sharply derogated. A senior official of the US Treasury Department could no longer see it. On the 8 day, he jumped out and warned that Washington is closely watching whether Beijing's efforts to depreciate the RMB exchange rate mean a policy shift.

The official warned that if the mainland had no hand and had no intention of establishing a market-oriented exchange rate mechanism, it would be a "serious concern".

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< p > however, an official of the people's Bank of China (CBOC) and others have indicated in succession that Beijing regards RMB depreciation as a part of its efforts to crack down on short-term speculation.

Short term speculators bet on the appreciation of the renminbi.

Beijing will not be able to act unless the renminbi has been shocked.

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"Maintaining the stability of the RMB exchange rate is a part of the work of the central bank," an official of the Central Bank of China revealed. P

It is impossible for the central bank to enter the field to promote RMB by preventing the RMB from being derogated and causing economic turmoil in the mainland.

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< p > analysts and investors say that the depreciation of the renminbi also reflects investors' fears that the mainland's economic growth will further decelerate.

In March, the central bank doubled the volatility of the RMB exchange rate and affected the renminbi.

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< p > > a href= "//www.sjfzxm.com/news/index_c.asp", "Zhang Ming /a", a senior economist at the Chinese Academy of Social Sciences of the mainland think tank, said: "the market makers believe that this is a signal to sell RMB, because they are increasingly worried about the recent slowdown in economic growth."

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< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > RMB > /a > 8 days, slightly rising, closing at 6.1968 yuan to 1 US dollars, compared with 4 daily 6.2123 yuan.

The 7 day of the mainland financial market coincides with a national holiday to take a day off.

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< p > it is also reported that Yifu Lin, vice president of the former world bank and Grove, vice president of the Asian Development Bank, said in the Boao forum that the rise or fall of the renminbi is a good thing.

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In reply to the question of the reversal of the trend of RMB appreciation, Yifu Lin, a professor at Peking University, said that if a currency was to be traded in the market, it would sometimes appreciate and sometimes depreciate, otherwise everyone would bet in one direction. P

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< p > Yifu Lin said that the Chinese mainland has widen the range of RMB Fluctuation, that the RMB can appreciate or depreciate, which has been seen several times. This is a good thing.

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Gro, vice president of the Asian Development Bank who spoke next to P, also agreed with Yifu Lin's view of RMB rising or declining.

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< p > he said that the trade surplus of the mainland of China is decreasing year by year, and the driving force of RMB appreciation is drying up. This is a good thing.

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< p > the 2014 annual meeting of the Boao forum for Asia 8, Yifu Lin and grove attend the Boao TV debate on CCTV English Channel: Reform: a new pattern of Asian finance and trade.

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