Chinese Yuan is Not Undervalued, Says Premier

Mar 15, 2010
Sectors: China Report
Email to Friend

Chinese Premier Wen Jiabao said March 14 that he does not believe that the Chinese yuan is undervalued, Sina reports quoting Wen from a news conference at the conclusion of the ten-day National People's Congress. We stand for free trade and oppose the use of coercion to force a country to appreciate its currency, Wen added. A country's exchange rate should be determined by its economy, said Wen.

China will continue to use a "managed" floating exchange rate for its currency that is based in supply and demand and is relatively stable, Wen said.

Tags: macro, wen jiabao

Related Research
On the Ground: Guangzhou Trade Fair – Part 1 May 08, 2013
Pacific Epoch analysts visited the biannual Guangzhou Trade Fair to assess exporter sentiment. This first of two reports details the current situation facing exporters and expectations…
Banker Survey: April 2013 May 03, 2013
Our monthly survey of 100 loan officers finds that new RMB loans will likely moderately decline in April, but this is due to quota tightening, rather than lack of underlying demand.
Real Estate Alert: April 2013 May 02, 2013
Our monthly real estate alert finds that sales corrected downwards after March's surge, but underlying demand remains strong.
Financial Reform: The Acceleration of Financial Innovation April 24, 2013
The first in our Financial Reform series examines emerging financial innovations, along with the reasons for their emergence and their impact on the economy.
Quick Take: Food Concerns Spur Price Increases April 18, 2013
Given severe external shocks to food markets over recent weeks, with scares over pork and ongoing concerns on H7N9 Avian Flu, Pacific Epoch set out to gauge the impact on consumer…
More China Research

Form submitted successfully. Thank you.

Email
Subject
Chinese Yuan is Not Undervalued, Says Premier
March 15, 2010: Chinese Premier Wen Jiabao said March 14 that he does not believe that the Chinese yuan is undervalued, Sina reports quoting Wen from a news conference at the conclusion of the ten-day National People's Congress. We stand for free trade and oppose the use of coercion to force a country to appreciate its currency, Wen added. A country's exchange rate should be determined by its economy, said Wen. China will continue to use a "managed" floating exchange rate for its currency that is based in supply…

Pacific Epoch Resources

Chinese Yuan is Not Undervalued, Says Premier

Related Research

Subscribe to Pacific Epoch