RMB Exchange Rate Does Not Exist On The Basis Of Sustained Depreciation.

Recently, the depreciation of the central parity of the RMB against the US dollar has aroused concern from all sides. A spokesman for the Ministry of Commerce said that since the end of last year, there has been a big deviation between the RMB exchange rate and the spot exchange rate. The central parity mechanism of RMB exchange rate is improved, and this deviation is corrected once and for all. This is conducive to giving play to the fundamental role of the market in the formation of the RMB exchange rate.

A spokesman for China's Ministry of Commerce issued a statement on the impact of the RMB exchange rate on business operation on Friday evening. exchange rate There is a big deviation between them. The central parity mechanism of RMB exchange rate is improved, and this deviation is corrected once and for all. This is conducive to giving play to the fundamental role of the market in the formation of the RMB exchange rate.

A spokesman for China's Ministry of Commerce said that there is no basis for sustained depreciation of the RMB exchange rate. The growth rate of China's economy, foreign trade and two-way investment is still one of the highest in the world's major economies. The fundamentals of the economy determine that the value center of the RMB exchange rate is basically stable. Judging from the past two weeks, the spread between the intermediate price and spot exchange rate has narrowed significantly, and the benchmark and reference of the middle price have been enhanced.

A spokesman for the Ministry of Commerce issued a statement on the impact of the RMB exchange rate on business operation, said the spokesman said that the current RMB exchange rate does not exist on the basis of sustained depreciation. The growth rate of China's economy, foreign trade and two-way investment is still one of the highest in the world's major economies. The fundamentals of the economy determine that the value center of the RMB exchange rate is basically stable. Judging from the past two weeks, the spread between the intermediate price and spot exchange rate has narrowed significantly, and the benchmark and reference of the middle price have been enhanced.

The spokesman pointed out that value chain In the background, due to the widespread existence of inter regional and upstream and downstream division of labor and intra industry trade, the change in the value of an economy and its impact on import and export will rapidly and positively transmit to other economies in the chain. The pulling effect of currency devaluation on exports will be apportioned and weakened. The improvement of the pricing mechanism of the RMB exchange rate intermediate price has different effects on different enterprises. China is a large import and export country, and processing trade accounts for a considerable proportion. The normal adjustment of the RMB exchange rate has limited impact on foreign trade.

The spokesman stressed that the exchange rate of a country ultimately depends on its overall international level. Competitive power 。 At present, China is accelerating the deepening of reform, opening wider to the outside world, and actively promoting the innovation driven strategy. China's economy is undergoing transformation, upgrading, quality improvement and efficiency, and the RMB exchange rate can remain basically stable at a reasonable and balanced level.