Hunan Chamber Of Commerce In China Textile City

China

According to incomplete statistics, there are about 20 thousand businessmen from Hunan.

Ruan Jianyao, deputy secretary of the Shaoxing county Party committee, hopes that the chamber of Commerce will play a good role in bridge and link, and lead the broad masses of members to innovate and develop, and contribute to the construction of the international textile capital, economic pformation and upgrading, and the exchanges between Hunan and Shaoxing.

Supplement:

A month ago, the people's Bank of China announced that it would further promote the reform of the RMB exchange rate formation mechanism and enhance RMB exchange rate flexibility.

Judging from this month's performance, the RMB exchange rate elasticity has been strengthened and two-way fluctuation has taken shape, and the RMB appreciation expectation has weakened.

In July 16th, the central parity of RMB against the US dollar announced by the China foreign exchange trading center was 6.7718, which was unchanged from the new high price after the July 12th reform. Compared with the June 19th central bank, it reaffirmed a slight appreciation of more than 0.8% in the previous trading day.

In the meantime, the central parity of the RMB against the US dollar has risen and fallen, the highest 6.7718, the lowest 6.8275, and the two-way fluctuation trend is obvious.

Ma Jun, chief economist of Greater China in Deutsche Bank, said that from the analysis of China's economic fundamentals and international and domestic factors, the floating of the RMB exchange rate will pay more attention to the role of a basket of currencies, and the US dollar exchange rate will also have more two-way fluctuations, rather than the trend of unilateral appreciation like 2005 to 2008.

Meanwhile, with the emergence of the euro zone debt crisis and the emergence of the US dollar hedging function, China also showed some signs of capital outflow and slowed down the pressure of RMB appreciation.

The recent one-year Renminbi non overseas deliverable forward exchange (NDF) was reported at around 6.65, suggesting that the overseas market is expected to appreciate only 1.69% in the next 12 months.

In addition, UBS predicts that at least initially, the yuan will strengthen against the US dollar.

In the future, the renminbi will not appreciate substantially against the US dollar, especially considering that the euro has depreciated considerably against the US dollar.

According to the research report released by JP Morgan, it is expected that the RMB will rise to 6.6 against the US dollar at the end of the year, and China will pay more attention to exchange rate flexibility.

China's monetary policy is expected to focus more on flexibility and pertinence in the future, so as to maintain steady economic growth.