RMB appreciation to economy better than expected, SAFE

时间：2006-12-15 00:58:42

（单词翻译:单击）

Chinanews, Beijing, Dec. 13 – Renminbi's appreciation1 has produced a better impact on Chinese macro economy than originally thought, said Wang Yungui, deputy head of the International Payment Department at the State Administration of Foreign Exchange (SAFE) on Monday. He said that so far, Chinese GDP growth, the fiscal2 revenues, customs revenue and inflation rate are all more satisfactory than the time before China kicked off the Renminbi exchange rate regime, the China Securities Journal reported.

 

He admitted that the exchange rate regime has produced negative impact on some enterprises. However, this negative impact is being alleviated3 by these companies. From the rapid growth of foreign trade, it can be seen that Chinese enterprises are capable of sustaining the negative impact brought by the exchange rate regime. To foreign export companies, export refund4 policy will exert a greater pressure on them than the exchange rate regime will do, he said.

 

He added that the pressure on Chinese export companies mainly resulted from the rising prices of raw materials and the rising labor5 costs.

 

At the China Foreign Exchange Forum6, Wang pointed7 out that so far, Renminbi’s fluctuating features are more obvious now. While Renminbi’s appreciation against US dollar has increased by almost 6%, its value against other foreign currencies, including Euros, is declining. The fluctuation8 occurs not only among different currencies but also within a specific foreign currency. Renminbi’s value against US dollar is in a declining trend. “Today, it might appreciate but tomorrow, the value might come down,” he said.

 

He stressed that people should understand Renminbi’s fluctuation feature in a comprehensive way, rather than stick to the US dollar only.

 
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1 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。
2 fiscal agbzf     
adj.财政的，会计的，国库的，国库岁入的
参考例句：
  • The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
  • The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。
3 alleviated a4745257ebd55707de96128297f486e1     
减轻，缓解，缓和( alleviate的过去式和过去分词 )
参考例句：
  • It is always completely alleviated by total gastrectomy. 全胃切除永远完全缓解症状。
  • Toxicity problem in manufacturing and storage might be alleviated by coating beryllium with aluminum. 但如果用铝包覆铍，则可避免加工过程中及储存期间的中毒问题。
4 refund WkvzPB     
v.退还，偿还；n.归还，偿还额，退款
参考例句：
  • They demand a refund on unsatisfactory goods.他们对不满意的货品要求退款。
  • We'll refund your money if you aren't satisfied.你若不满意，我们愿意退款给你。
5 labor P9Tzs     
n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦
参考例句：
  • We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
  • He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。
6 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。
7 pointed Il8zB4     
adj.尖的，直截了当的
参考例句：
  • He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
  • She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。
8 fluctuation OjaxE     
n.(物价的)波动，涨落；周期性变动；脉动
参考例句：
  • The erratic fluctuation of market prices are in consequence of unstable economy.经济波动致使市场物价忽起忽落。
  • Early and adequate drainage is essential if fluctuation occurs.有波动感时，应及早地充分引流。

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