男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Banking

Long march of China's currency yuan

(Xinhua)
Updated: 2010-07-22 15:37
Large Medium Small

BEIJING - Ge Yafang, who runs a textile company in eastern China's Jiangsu province, always says her destiny was changed by the reform of China's exchange rate policy.

Ge, president of the Black Peony Co, said the company was "forced" to shift to a technology-driven operation from its previous labor-intensive workplace. "I had to make the change, or the rising yuan might have pulled the company into bankruptcy," she said.

Related readings:
Long march of China's currency yuan New yuan regime to benefit global economic recovery
Long march of China's currency yuan Currency moves may imperil textile firms
Long march of China's currency yuan China: Yuan to be kept 'basically stable'
Long march of China's currency yuan Yuan hits new record high against USD

The Black Peony Co exports clothing of jeans, Khaki cotton and corduroy to countries such as the United States and Japan. Like most of China's export businesses five years ago, the company's development was supported by vast supplies of cheap labor and inexpensive raw materials.

On July 21, 2005, China abandoned a decade-old peg to the US dollar by allowing its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent. Since then, the yuan has strengthened further, though slowly, and risen more than 21 percent against the greenback.

The gradual appreciation of the yuan has forced China's exporters to promote innovation and move up the value chain to improve profitability, said Zhang Yansheng, a researcher at the National Development and Reform Commission, the country's top economic planner.

The Black Peony Co was one of the winners during this national transition. Profits in the company surged to 365 million yuan ($53.8 million) in 2009 from only 21 million yuan in 2005.

"The reform in 2005 is quite successful," said Li Daokui, a member of the monetary policy committee of China's central bank. "A managed, gradual and independent appreciation has helped ease the imbalance of international payments in the country."

After a strong appreciation in the first three years following the reform, China's yuan exchange rate started to stabilize in the second half of 2008.

As the world's third largest economy, China's efforts to maintain a stable yuan during the crisis greatly contributed to sustaining the world economy, analysts said.

On June 19 of this year, the People's Bank of China (PBOC), the central bank, announced that it would further the reform of formation mechanisms of the yuan exchange rate to improve its flexibility. At the same time, it ruled out a one-off revaluation.

Of the 23 trading days following June 19, 14 days saw the central parity of the yuan was set stronger than the previous day, while eight days recorded weaker central parity rates.

   Previous Page 1 2 Next Page  

主站蜘蛛池模板: 大洼县| 浪卡子县| 阿拉善左旗| 扬州市| 教育| 汶上县| 离岛区| 固始县| 都江堰市| 绍兴市| 郁南县| 安国市| 澄迈县| 潜江市| 西乡县| 东阿县| 西华县| 元朗区| 衡阳市| 石台县| 海伦市| 宜昌市| 青冈县| 红原县| 盘锦市| 天台县| 开阳县| 康马县| 唐海县| 密山市| 宁河县| 光泽县| 余江县| 东台市| 南和县| 嘉峪关市| 尼勒克县| 册亨县| 宁陵县| 双鸭山市| 胶南市| 新龙县| 时尚| 通化市| 道孚县| 基隆市| 曲周县| 溧阳市| 平定县| 佛学| 靖江市| 温泉县| 洮南市| 获嘉县| 读书| 万源市| 望都县| 荥阳市| 平谷区| 阿拉善右旗| 南部县| 泗洪县| 芜湖县| 什邡市| 信宜市| 文昌市| 西平县| 本溪| 蓬安县| 德惠市| 内江市| 广昌县| 铁岭县| 启东市| 汉中市| 绩溪县| 焉耆| 沈丘县| 都江堰市| 广安市| 长阳| 贵定县|