RMB to rise by less than 5% this year,expert

时间：2007-01-22 00:21:08

（单词翻译:单击）

Chinanews, Hong Kong, Jan. 20 – Recently, the rate of appreciation1 for Renminbi seems to accelerate. In spite of this, an economist2 predicts that in order to protect Chinese export trade so that it won’t be severely3 affected4 by such appreciation, Renminbi’s value won’t go very high this year. He says that Renminbi’s appreciation rate will be kept below 5% this year.

 

In 2007, Renminbi has appreciated at an even faster rate than last year. On January 18, the central parity5 rate of Renminbi to US dollar reached 7.7785, hitting a record low point for four consecutive6 days. Based on this rate, Renminbi has appreciated by an accumulation of 4.3 percentage points now.

 

Qu Hongbin, chief China economist at HSBC, said that since the latter half of the last year, Renminbi’s appreciation value quickened. As a result, the rate of growth for the export will be reduced from 30% in 2006 to 15% in 2007. In order to reduce the adverse7 effects of Renminbi on export, Qu predicts that Renminbi will appreciate by less than 5% this year, which is within what China can sustain. He also predicts that Chinese economic growth rate for this year will be at 9%.

 

In 2007, the growth of global economy will slow down. However, Chinese economy will not take a hard landing, Qu said. Although Chinese export trade will slow down, and Chinese manufacturing industry will be adversely8 affected, Qu is still optimistic about Chinese economy this year, saying that investment will remain high as demanded for China’s infrastructure9 building. Meanwhile, China’s banking10 system will make further improvement. As many young people from countryside will settle down in big cities, consumption will be expanded. Besides, the central government can apply a set of macrocontrol measures to adjust the economy. All these positive factors will offset11 the negative factors, Qu said.

 

Recently, the central government allows mainland financial institution to issue Renminbi bonds in Hong Kong. Qu said that the measures would increase business opportunities to companies in Hong Kong and would help Renminbi savings12 to flow back orderly to the mainland. He said the measures would not directly affect Renminbi’s exchange rate.

 

He also predicted that the People’s Bank of China would raise the bank deposit reserve ratio three times this year. However, it won’t raise the interest rate.

 
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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 economist AuhzVs     
n.经济学家，经济专家，节俭的人
参考例句：
  • He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
  • He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。
3 severely SiCzmk     
adv.严格地；严厉地；非常恶劣地
参考例句：
  • He was severely criticized and removed from his post.他受到了严厉的批评并且被撤了职。
  • He is severely put down for his careless work.他因工作上的粗心大意而受到了严厉的批评。
4 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。
5 parity 34mzS     
n.平价，等价，比价，对等
参考例句：
  • The two currencies have now reached parity.这两种货币现已达到同等价值。
  • Women have yet to achieve wage or occupational parity in many fields.女性在很多领域还没能争取到薪金、职位方面的平等。
6 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
7 adverse 5xBzs     
adj.不利的；有害的；敌对的，不友好的
参考例句：
  • He is adverse to going abroad.他反对出国。
  • The improper use of medicine could lead to severe adverse reactions.用药不当会产生严重的不良反应。
8 adversely 6zEzi6     
ad.有害地
参考例句：
  • We commented adversely upon the imbecility of that message of telegraphic style. 我们对着这条电报式的愚蠢的留言发泄了一通不满。
  • Widely fluctuating exchange rates may adversely affect international trade. 浮动幅度很大的汇率可能会对国际贸易产生有害的影响。
9 infrastructure UbBz5     
n.下部构造，下部组织，基础结构，基础设施
参考例句：
  • We should step up the development of infrastructure for research.加强科学基础设施建设。
  • We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。
10 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
11 offset mIZx8     
n.分支，补偿；v.抵消，补偿
参考例句：
  • Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
  • He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。
12 savings ZjbzGu     
n.存款，储蓄
参考例句：
  • I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
  • By this time he had used up all his savings.到这时，他的存款已全部用完。

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