China'S Ministry Of Commerce Said The Depreciation Of The RMB Exchange Rate Is Very Good.

* China's import and export situation is more severe next year.

* will pay more attention to exports to developing economies.

* November

* the depreciation of the RMB exchange rate is very good.

In the context of deepening the debt crisis and the slow economic uncertainty in the US, China's Ministry of Commerce said Wednesday that China's import and export situation is more severe next year and will pay more attention to exports to developing economies.

"For next year, the situation in the US and Europe will not be fundamentally changed. From the domestic supply cost, we will face the same situation this year," Wang Shouwen, director of the foreign trade division of the Ministry of Commerce, said at the press conference.

But he also pointed out that the economic growth of developing countries, especially emerging market countries, is not bad, so the export of developing economies will be focused on next year in terms of foreign trade exports.

In view of the import problem, Wang Shouwen stressed that China attaches great importance to imports, especially the import from the United States and the European Union.

Meanwhile, Chong Quan, deputy representative of the international trade negotiations of the Ministry of Commerce, also said that only by stabilizing exports and expanding imports will China be able to benefit from macroeconomic regulation and control.

Uncertainty in the US and Europe has slowed China's year-on-year growth in October to a new low in August.

The Chinese customs will issue the November foreign trade data on Saturday. According to the latest Reuters survey, the growth rate of imports and exports will slow sharply in November, down to 19% and 10.9% respectively, and the trade surplus will be reduced to 14 billion 300 million dollars in that month.

The media quoted the NDRC experts forecast that the growth rate of foreign trade this year is a foregone conclusion. The growth trend of import and export will continue in the fourth quarter. The total import and export volume will be between 4 trillion and 200 billion and 4 trillion and 320 billion dollars next year, with an increase of 14% to 17.5%.

China's foreign trade white paper also said that China's current foreign trade development is uneven, uncoordinated and unsustainable. It is mainly manifested in the growth and growth of exports, which mainly depend on input and consumption of resources, energy, land, labor and environment.

* the depreciation of the RMB exchange rate is very good.

Recently, because of China's economic slowdown and hot money running away and other doubts, the RMB exchange rate depreciated signals. Recently, the RMB has hit the limit price for five consecutive days against the US dollar.

In this regard, the deputy director of the Ministry of Commerce's international trade negotiations, Chong Quan, said that the depreciation of the RMB exchange rate is very good. It shows that the RMB exchange rate is not manipulated by the Chinese government and is regulated by the market.

"RMB has depreciated in the first two days..."

It is precisely stated that the RMB exchange rate is not controlled by the government. It is not like some people say that we are manipulating the exchange rate. The Chinese government has never manipulated the exchange rate. Our exchange rate fluctuates according to market changes and market demand.

"Chong Quan said.

As to whether there is room for the renminbi to rise, he said that the exchange rate fluctuated with the fluctuation of the market. He personally believed that the RMB exchange rate could rise again, or it could be devalued again.