Value of RMB climbed above HKD in retail sector

时间：2007-01-10 05:23:42

（单词翻译:单击）

Chinanews, Beijing, Jan. 9 – After the value of Renminbi climbed above Hong Kong dollar in mainland banks, Renminbi's exchange rate to Hong Kong dollar also rose above 1:1 in banks in Hong Kong.

 

This shows that in retail1 sector2, the value of Renminbi is already above the value of Hong Kong dollar. It is expected that in the inter-bank foreign exchange market, Renminbi will rise to a higher value in the near future. In the Pearl River Delta3 region in south China, many local shops now refuse to accept HK dollar, the China Securities Journal reported.

 

A staff worker at Bank of China's Hong Kong branch told this reporter that on January 5, the bank customers could exchange for only 99.5 yuan with every 100 Hong Kong dollars. In Hang Seng Bank, the online exchange rate of Renminbi against Hong Kong dollar broke the 1:1 exchange level and residents should pay 100.5 Hong Kong dollars in exchange for every 100 yuan. In HSBC and the Industrial and Commercial Bank of China (ICBC)'s Asia branch office, although Renminbi's exchange rate to Hong Kong dollar still kept at 1:1, staff workers in these banks said that the situation could change at any time with Renminbi expected to rise to a higher value.

 

Renminbi's rising value has already brought some psychological impacts. As Hong Kong’s economy is more closely linked with mainland economy, some market analysts4 worry that Renminbi's rise in value might affect the linkage5 system between the US dollar and the HK dollar, which has functioned in Hong Kong for 23 years. To clear up people's doubts, Hong Kong SAR government had to stress repeatedly that Hong Kong would adhere to the present linkage system between the US dollar and the HK dollar. Hong Kong Chief Executive Donald Tsang Yam-kuen stated that Hong Kong would not consider changing its current linkage system until 2047, when Renminbi could be fully6 exchangeable at that time.

 
分享到：


点击收听单词发音收听单词发音  

1 retail VWoxC     
v./n.零售；adv.以零售价格
参考例句：
  • In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
  • These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。
2 sector yjczYn     
n.部门，部分；防御地段，防区；扇形
参考例句：
  • The export sector will aid the economic recovery. 出口产业将促进经济复苏。
  • The enemy have attacked the British sector.敌人已进攻英国防区。
3 delta gxvxZ     
n.（流的）角洲
参考例句：
  • He has been to the delta of the Nile.他曾去过尼罗河三角洲。
  • The Nile divides at its mouth and forms a delta.尼罗河在河口分岔，形成了一个三角洲。
4 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
5 linkage l01xl     
n.连接；环节
参考例句：
  • In their monographic treatment of linkage,they have emphasized this especially.他们在论连锁的专题文章中特别强调了这点。
  • Occasionally,problems with block inheritance or linkage are encountered.有时会遇到区段遗传或连锁问题。
6 fully Gfuzd     
adv.完全地，全部地，彻底地；充分地
参考例句：
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

©2005-2010英文阅读网