Yi Gang: We Do Not Expect The RMB Exchange Rate To Be Seriously Overestimated.

Overnight, vice president of the central bank, Yi Gang, spent the night in Washington to attend the IMF spring conference. He expressed confidence in China's economic growth this year, 6.5%-7%.

From the first quarter data, electricity consumption and other indicators, China's economy is "quite strong".

China's economic outlook is also facing challenges, and the biggest challenge lies in implementing reforms.

Based on market supply and demand, the exchange rate is roughly in equilibrium, and we believe that the RMB exchange rate will remain stable.

It is not expected that the RMB exchange rate will be seriously overestimated.

The dollar still has great weight in the basket of RMB exchange rates.

The renminbi is mainly driven by the market and helps to balance the economy.

Yi Gang also said that the RMB exchange rate was seriously overvalued.

Yi Gang also said, "if the economic performance of the two largest economies in the world performs well, the weak demand for improving the global economy will have a solid foundation."

He also said that China should simplify and accelerate bankruptcy procedures and allow bankrupt enterprises to close down.

China's corporate debt level is relatively higher than that of other emerging markets. We must gradually reduce the level of corporate debt, but we should also pay attention to lowering leverage and not achieving it overnight.

The National Bureau of statistics will announce this morning at 10 a.m.

Equal weight data.

Economists surveyed by Bloomberg expect a median of 6.7%, down from 6.8% in the 4 quarter of last year, which will be the slowest growth since the first quarter of 2009.

Premier Li Keqiang said in a speech last week, China's first quarter

More favorable changes occurred, and the overall situation was better than expected.

The NDRC's conference this week said that China's economic success in the first quarter was "realistic and well founded". Its spokesmen expounded the positive direction and positive changes with six "ups".

Investment growth has picked up, price levels have rebounded, corporate profits have declined, the volume of real estate pactions has picked up significantly, revenue growth has picked up, and market expectations have picked up.

The first quarter economic growth was slightly lower than the fourth quarter of last year, but much better than previous market expectations.

In addition, these six "liters" are only part of it. When data are released intact, we will see that almost all of the data show overall recovery.

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The National Bureau of statistics will hold a press conference on national economic performance at 10 o'clock today to announce the gross domestic product (GDP) data in the first quarter of this year.

Analysis said, from the first release of the data and the official release of information, the first quarter of China's economy ushered in "open" has no suspense.

Experts believe that China's economic rebound trend is expected to continue, the two quarter of the economy is expected to further stabilize the better.