Forex reserve to have more Euros

时间：2007-06-02 02:25:05

（单词翻译:单击）

June 1 - China plans to increase the ratio of Euros in its foreign exchange holdings given the stability in the European Union (EU) economic growth and in the value of the European single currency, said a central bank vice1 governor on Thursday.

 

However, China has no plans yet to reduce the proportion of US dollar assets in its coffers, Wu Xiaoling told an economic forum2 in Brussels, the Shanghai-based Oriental Morning Post reported Friday.

 

China's forex reserves reached US$ 1.2 trillion at the end of March and about 70 percent of the holdings are believed to be in US dollar assets, especially US treasuries3.

 

To address the trade imbalance with western countries, China could take measures to stimulate4 domestic consumption and improve the flexibility5 of the Chinese currency.

 

"If we intend to solve the problem of imbalanced trade, we will first increase the flexibility of the yuan exchange rate, but that will not be the main means," Wu said.

 

It is more important for China to increase its citizens' incomes and boost domestic consumption through the improvement of social security networks, according to Wu.

 

She went on to say China will not bow to outside pressure and accelerate the revaluation of the yuan.

 

If China's exchange rate reforms go smoothly6, then the appreciation7 of the yuan will continue, the central banker said. However, if the country's economy runs into problems and the exchange rate reforms stagnate8, then the Chinese currency risks depreciation9, Wu noted10.

 

On the stock market, she said it is growing too fast and regulators hope they can develop it in a more stable way. "If the stock market can't operate smoothly, then investors11' confidence will be hurt and their consumption will be affected12."

 

On top of a 130 percent rally in 2006, China's benchmark Shanghai Composite Index has surged more than 60 percent so far this year before a 6.5 plummet13 Wednesday that was caused by a hike of stamp tax to 0.3 percent from 0.1 percent.

 
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1 vice NU0zQ     
n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的
参考例句：
  • He guarded himself against vice.他避免染上坏习惯。
  • They are sunk in the depth of vice.他们堕入了罪恶的深渊。
2 forum cilx0     
n.论坛，讨论会
参考例句：
  • They're holding a forum on new ways of teaching history.他们正在举行历史教学讨论会。
  • The organisation would provide a forum where problems could be discussed.这个组织将提供一个可以讨论问题的平台。
3 treasuries 506f29b3521f9522ba67d6c04ba661f5     
n.（政府的）财政部( treasury的名词复数 )；国库，金库
参考例句：
  • Yields on Treasuries, Bunds and gilts can remain at historically low levels. 美国国债、德国国债和英国国债的收益率仍然可以维持在历史低位。 来自互联网
  • Treasuries and gold rose in response but the dollar fell sharply. 接着，国债和黄金的价格上涨，而美元价格则猛跌。 来自互联网
4 stimulate wuSwL     
vt.刺激，使兴奋；激励，使…振奋
参考例句：
  • Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
  • Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。
5 flexibility vjPxb     
n.柔韧性，弹性，（光的）折射性，灵活性
参考例句：
  • Her great strength lies in her flexibility.她的优势在于她灵活变通。
  • The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。
6 smoothly iiUzLG     
adv.平滑地，顺利地，流利地，流畅地
参考例句：
  • The workmen are very cooperative,so the work goes on smoothly.工人们十分合作，所以工作进展顺利。
  • Just change one or two words and the sentence will read smoothly.这句话只要动一两个字就顺了。
7 appreciation Pv9zs     
n.评价；欣赏；感谢；领会，理解；价格上涨
参考例句：
  • I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
  • I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。
8 stagnate PGqzj     
v.停止
参考例句：
  • Where the masses are not roused,work will stagnate.哪里不发动群众，哪里的工作就死气沉沉。
  • Taiwan's economy is likely to stagnate for a long time to come.台湾经济很可能会停滞很长一段时间。
9 depreciation YuTzql     
n.价值低落，贬值，蔑视，贬低
参考例句：
  • She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
  • They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。
10 noted 5n4zXc     
adj.著名的，知名的
参考例句：
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。
11 investors dffc64354445b947454450e472276b99     
n.投资者，出资者( investor的名词复数 )
参考例句：
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
12 affected TzUzg0     
adj.不自然的，假装的
参考例句：
  • She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
  • His manners are affected.他的态度不自然。
13 plummet s2izN     
vi.(价格、水平等)骤然下跌；n.铅坠；重压物
参考例句：
  • Mengniu and Yili have seen their shares plummet since the incident broke.自事件发生以来，蒙牛和伊利的股票大幅下跌。
  • Even if rice prices were to plummet,other brakes on poverty alleviation remain.就算大米价格下跌，其它阻止导致贫困的因素仍然存在。

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