China Should Target ‘Appropriate’ Decline in Yuan, Journal Says

magicboy

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNRwcEAc5wbU&refer=home

China Should Target ‘Appropriate’ Decline in Yuan, Journal Says

March 19 (Bloomberg) -- China should allow “appropriate” depreciation in the yuan to stem a slide in exports and help sustain economic growth, the State Information Center said in a report in the official China Securities Journal today.
Industrial production still faces “big” downward pressure because of collapsing overseas demand, despite the government’s 4 trillion yuan ($585 billion) stimulus package, the report said. China should closely monitor overseas sales and devalue the yuan by a suitable amount, it said.
China has kept yuan gains in check since mid-July, following a 21 percent gain since a dollar peg was scrapped three years earlier, as recessions in the U.S., Europe and Japan hurt exports. Premier Wen Jiabao pledged last week that his government will seek to maintain the currency’s stability.
The State Information Center is a research agency affiliated to China’s top economic planning body, the National Development and Reform Commission.
To contact the reporters on this story: Judy Chen in Shanghai at

sarah_wang1986

认领啦~~~

sarah_wang1986

翻好忘回帖了
http://bbs.m4.cn/thread-150044-1-1.html