July 20, 2025
    Advanced Search 
  Home>News Center>Bizchina
       
 

Central bank vows to keep RMB exchange rate stable
(Xinhua)
Updated: 2004-03-11 14:09

China's central bank pledged Thursday to keep the exchange rate of Renminbi (RMB) "basically stable at an adaptive and equilibrium level".

In 2004, the People's Bank of China (PBOC)will strengthen coordination of its domestic and foreign currency policies, and better monitor and manage short-term capital flows, according to background materials provide by PBOC at the press conference on the sideline of the ongoing sessions of the 10th National People's Congress (NPC) and the 10th National Committee of the Chinese People's Political Consultative Conference.

The central bank plans to "steadily push ahead with RMB convertibility under capital account, further develop foreign exchange market and improve the mechanisms for determining RMB exchange rate, and keep the RMB exchange rate basically stable at an adaptive and equilibrium level," according to the materials.



 
  Story Tools  
 
Font Large Medium Small
E-Mail This Story
Print Friendly Format
Comment On This Story
Save This Story
 
  Related Stories  
   
China's exchange rate policy not violate WTO
   
Stable exchange rate crucial
Manufacturers, Exporters, Wholesalers - Global trade starts here.

 

Advertisement
         

| Home | News | Business | Living in China | Forum | E-Papers | Weather |

| About China Daily | About China Daily.com.cn | Contact Us | Site Map | Jobs |
 Copyright 2005 Chinadaily.com.cn All rights reserved. Registered Number: 20100000002731