Home / Metal News / IMF Welcomes China's Decision on Further Exchange Rate Reform

IMF Welcomes China's Decision on Further Exchange Rate Reform

iconJun 21, 2010 08:57
Source:SMM

WASHINGTON, Jun. 21 -- The International Monetary Fund's chief Dominique Strauss-Kahn on Saturday welcomed China's decision to further reform its exchange rate mechanism and said that the move will benefit Chinese consumers.

China's announcement is "a very welcomed development," Strauss-Kahn said in a statement.

The move "will help increase Chinese household income and provide the incentives necessary to reorient investment toward industries that serve the Chinese consumer," he said.

The People's Bank of China, China's central bank, earlier on Saturday announced a decision to proceed further with the reform of the exchange rate regime to enhance the flexibility of the RMB's exchange rate.

 

exchange rate reform
International Monetary Fund
RMB exchange rate reform

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn