Zhou Xiaochuan
Zhou Xiaochuan
Zhou Xiaochuanis a Chinese economist, banker, reformist and bureaucrat. As governor of the People's Bank of China since December 2002, he has been in charge of the monetary policy of the People's Republic of China. He was reappointed to the same position in March 2013, making him the longest-serving central bank chief since the establishment of the People's Republic of China...
float forces market time
but the important thing is that it has started to float and over time market forces will play a more and more important role.
actual based both floating future home range situation terms
This floating range can be expanded in terms of the future development, but it has to be based on the actual situation both at home and internationally.
conditions economy exist factors float free global unstable
The conditions for a free float do not exist at present. The global economy is not balanced, there are still many unstable factors and there will be a lot of adjustments in future,
china clear exchange rate
I think it's very clear that China is introducing a new exchange rate mechanism. It is not a one-time adjustment.
domestic exchange issues loses pressure rate three trade
Otherwise, in two or three years' time, once domestic consumption loses steam, there will then be a lot of pressure around issues such as the exchange rate and trade friction.
demand economic enhance household improve investment several slow strong
Our investment demand has been very strong for several years, so we are now trying, to some extent, to slow down investment and enhance the household consumption demand to improve the economic structure.
domestic
We need to look at domestic and international needs.
foreign interest rates
We will have decontrol of interest rates and foreign exchange.
allow bring demand effect exchange gradually greater market rate supply
We think (we) can allow market supply and demand to gradually bring about a greater effect on the exchange rate float.
bonds buy china current elections employment exchange foreign good issues pressures reserves rest state subsidize treasury using
We know the U.S. has pressures -- employment issues and elections and the credibility of the government. For China, we could also say that the current state is not only good for China but also for the rest of the world and also good for the U.S. because we are using our foreign exchange reserves to buy U.S. Treasury bonds and subsidize U.S. consumers.
china continue exchange gradual increase means premier rate
What the premier said means that China would continue to increase the flexibility of the RMB exchange rate in a gradual manner.
economic exchange financial july market meet needs rate reforms regime role social
The reforms of the exchange rate regime made in July meet the needs of China's economic and social development and play a significant role in maintaining macroeconomic and financial market stability.
autonomy comply exchange financial fund granted objective promoting respect stability systems
Fund surveillance should comply with the objective of promoting exchange and financial stability and respect the autonomy as to exchange-rate systems that is granted to all members.
assets currency fund global major mechanism priority reserve single
Global trade, settlements and reserve assets are heavily reliant on a single currency. The fund should give priority to establishing a surveillance and check-balance mechanism of the major reserve currency countries.