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: 遵化市| 唐海县| 乐陵市| 福贡县| 盈江县| 德化县| 舟山市| 大田县| 西平县| 平舆县| 林甸县| 墨脱县| 清镇市| 永济市| 临颍县| 开原市| 兴文县| 高淳县| 雷州市| 游戏| 高尔夫| 安达市| 平江县| 灵宝市| 尤溪县| 大安市| 阳泉市| 巧家县| 恩施市| 扶绥县| 白河县| 延津县| 蒲城县| 彰化市| 杂多县| 灯塔市| 洪泽县| 林口县| 吐鲁番市| 阿城市| 洛隆县| 莲花县| 堆龙德庆县| 贡觉县| 永定县| 泸西县| 南京市| 临沭县| 安西县| 礼泉县| 连山| 牟定县| 武乡县| 西贡区| 噶尔县| 八宿县| 宾阳县| 曲水县| 绵阳市| 苍山县| 昆山市| 读书| 康马县| 宁城县| 合阳县| 铁岭市| 新建县| 青岛市| 淮滨县| 长顺县| 江永县| 休宁县| 黄浦区| 大兴区| 衡南县| 阿拉善盟| 莫力| 讷河市| 灵川县| 洛川县| 克拉玛依市| 夹江县|