The RMB Exchange Rate Is At A Reasonable Interval Of &Nbsp, And The Export Prospects Are Not Optimistic.

At a regular press conference of the Ministry of Commerce, he said that in encouraging the expansion of imports, new policies and measures will be introduced to promote the balanced development of foreign trade.

The proportion of China's trade surplus in gross domestic product (GDP) is basically balanced, and the balance of foreign trade will reach the end of the year.

"Whether the RMB exchange rate is in a reasonable interval, which requires a set of standards for verification, whether IMF or economists, we all believe that the RMB exchange rate is basically at a reasonable level and a reasonable interval," Shen Danyang said.

He said that whether the leaders of developed countries or leaders of developing countries accused China of the RMB exchange rate, "we think neither groundwork nor reason", the RMB exchange rate is not the main reason for the Sino US trade imbalance.

During the Asia Pacific Economic Cooperation (APEC) conference, US President Obama pressed China on the issue of exchange rate. He said on Sunday that although the renminbi has appreciated, it needs further and faster appreciation, and that most analysts believe that the RMB exchange rate in China is undervalued by 20-25%.

Chinese President Hu Jintao, who attended the meeting, said that structural problems such as the US trade deficit and unemployment are not caused by the RMB exchange rate. Even if the renminbi appreciates significantly, it will not solve the problems facing the United States.

Since China announced the resumption of foreign exchange reform and strengthened RMB exchange rate flexibility in June 2010, the yuan has risen by about 7.5%. against the US dollar.

Shen Danyang expects China's trade surplus to be controlled at around us $150 billion this year, and the total foreign trade volume is 3.6-3.7 trillion US dollars.

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Customs data showed that the total value of imports and exports in the 1-10 months of this year was about $2 trillion and 980 billion, up 24.3% from the same period last year, while the trade surplus was 124 billion 20 million US dollars during the same period, narrowing 15.4%. compared with the same period last year, but it was also depressed by the economic downturn in Europe and the United States. In October, the export growth rate reached a eight month low.

The export situation is not optimistic.

Shen Danyang said that the current foreign trade situation is more complex, the economic downturn in developed countries, the weakening demand for China's exports, the comprehensive factors that affect domestic enterprises' cost rise, and the increase in trade frictions. A comprehensive analysis shows that China's export situation is not optimistic for some time.

He said that the next step will not only support domestic enterprises to overcome difficulties, stabilize export growth, cultivate new advantages of foreign trade competition at the core of technology, brand, quality and service, and will continue to adhere to the policy of expanding imports to stabilize import growth.

The Ministry of commerce also announced that the actual amount of foreign capital (FDI) actually used in the whole country in October was 8 billion 334 million US dollars, an increase of 8.75%.1-10 compared with the same period last year, and the actual amount of foreign capital utilized was 95 billion 12 million US dollars, up 15.86% over the same period last year.

Among them, the major Asian countries' investment in China continued to increase substantially in the first half of October, with a slight increase in investment in the EU, and a further decline in US investment. The central region's actual use of foreign capital maintained a rapid growth trend, and the growth of foreign capital actually slowed down in the eastern and western regions.

In 1-10, the total number of investors in China has been realized.