Central Bank: fully capable of keeping RMB Exchange rate basically stable-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Inventory data
  • Rare earth
  • Copper scrap
  • Copper
  • Lithium
  • Evening comments
  • Aluminium
  • SMM
  • Market commentary
  • Morning comments
  • MMi Iron Ore Port Index
  • Cobalt
  • Futures movement
  • Customs data

Central Bank: fully capable of keeping RMB Exchange rate basically stable

Translation 08:14:03AM May 20, 2019 Source:Securities Daily

SMM News: yesterday, Pan Gongsheng, deputy governor of the Central Bank and director of the State Administration of Foreign Exchange, said in an interview with the media on the current operation of China's financial and foreign exchange market that over the past year, China's foreign exchange market has been operating smoothly and overseas capital inflows have increased. Foreign exchange reserves have risen steadily, and the foreign exchange market is expected to be stable as a whole. We fully have the foundation, confidence and ability to maintain the stable operation of China's foreign exchange market and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

He pointed out: at present, China's economy is running smoothly on the whole, the main indicators are kept in a reasonable range, the transformation of new and old kinetic energy is accelerated, and the macroeconomic fundamentals are good. In April, China's manufacturing purchasing managers' index (PMI) was 50.1%, continuing to be in the expansion range. Macro-policy has a large space for operation and rich policy tools. Since the beginning of this year, the prudent monetary policy has strengthened the counter-cyclical adjustment, enhanced the forward-looking and flexibility of the policy, maintained reasonable and abundant liquidity, promoted the rapid growth of social credit, and tightened the monetary and financial conditions. The financial sector has further increased its support for private and small and micro enterprises.

"the steady operation of China's economy and finance has provided a strong fundamental support for maintaining a reasonable and stable foreign exchange market and RMB exchange rate. Since the beginning of this year, China's foreign exchange market has been operating smoothly, foreign capital inflows have increased, foreign exchange reserves have risen steadily, and the foreign exchange market is expected to be stable as a whole. " Pan Gongsheng said.

Key Words:  Central bank  RMB  exchange rate  stability 

Central Bank: fully capable of keeping RMB Exchange rate basically stable

Translation 08:14:03AM May 20, 2019 Source:Securities Daily

SMM News: yesterday, Pan Gongsheng, deputy governor of the Central Bank and director of the State Administration of Foreign Exchange, said in an interview with the media on the current operation of China's financial and foreign exchange market that over the past year, China's foreign exchange market has been operating smoothly and overseas capital inflows have increased. Foreign exchange reserves have risen steadily, and the foreign exchange market is expected to be stable as a whole. We fully have the foundation, confidence and ability to maintain the stable operation of China's foreign exchange market and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

He pointed out: at present, China's economy is running smoothly on the whole, the main indicators are kept in a reasonable range, the transformation of new and old kinetic energy is accelerated, and the macroeconomic fundamentals are good. In April, China's manufacturing purchasing managers' index (PMI) was 50.1%, continuing to be in the expansion range. Macro-policy has a large space for operation and rich policy tools. Since the beginning of this year, the prudent monetary policy has strengthened the counter-cyclical adjustment, enhanced the forward-looking and flexibility of the policy, maintained reasonable and abundant liquidity, promoted the rapid growth of social credit, and tightened the monetary and financial conditions. The financial sector has further increased its support for private and small and micro enterprises.

"the steady operation of China's economy and finance has provided a strong fundamental support for maintaining a reasonable and stable foreign exchange market and RMB exchange rate. Since the beginning of this year, China's foreign exchange market has been operating smoothly, foreign capital inflows have increased, foreign exchange reserves have risen steadily, and the foreign exchange market is expected to be stable as a whole. " Pan Gongsheng said.

Key Words:  Central bank  RMB  exchange rate  stability