[Media]CCTV News Network, People’s Daily, etc.:
Ding Zhijie analyzes the reasons for the recent accelerated appreciation of w88 online casino betting
Editor’s note:The RMB exchange rate against the US dollar has risen sharply recently. On the 11th, the central parity rate of the RMB against the US dollar broke through the 6.40 mark for the first time, setting a new high since the exchange rate reform. On August 11, 2011, CCTV News Broadcast broadcast the news that "the RMB has recently accelerated its appreciation, breaking a new high of 6.4 for the first time." In the report, Professor Ding Zhijie, dean of the w88 casino of Finance of w88 casino, was interviewed to analyze the reasons. On August 12, 2011, the 10th page of "People's Daily" and other media also published the interview content.
1.CCTV "News Network"
[Video]The recent accelerated appreciation of w88 online casino betting breaks through for the first time6.4New high
http://news.cntv.cn/program/xwlb/20110811/117025.shtml
2.People’s Daily:
Central parity rate of RMB to US dollar exchange rate6.3991, a new high since the exchange rate reform
How to view w88 online casino betting exchange rate hitting a new high
Our reporter Tian Junrong
("People's Daily" Page 10, August 12, 2011)
China’s rapid economic growth supports the strong performance of w88 online casino betting
The unexpected growth of the w88 surplus and the strong rise in exports have promoted the strengthening of the RMB
8month11Day, central parity rate of RMB against US dollar6.3991, breaking through for the first time6.4mark, setting a new high since the exchange rate reform.
"The pace of RMB appreciation has accelerated recently, mainly as a result of market forces."Ding Zhijie, Dean of the w88 casino of Finance, w88 casinoSay. Recently released data shows that7my country’s w88 surplus reached in month314.84billion US dollars, for2009Year2The highest since the month,7Monthly exports reached1751.3USD, the monthly export scale refreshed the previous record just last month1619.7Historical record of US$16997_17061| “The unexpected growth of the w88 surplus and the strong rise in exports have shown in the foreign exchange market that foreign exchange is sufficient and supply exceeds demand, thus promoting the strengthening of the RMB exchange rate.”
According to traders in China’s foreign exchange market, a creation30After the announcement of the monthly high w88 surplus,Sudden increase in dollar selling has banks overwhelmed. "The export situation is so good and the U.S. dollar is going to weaken. No one is a fool. Of course, we have to sell the U.S. dollar." He said.
Looking at a longer period of time, despite the slowdown in the economic recovery of major developed economies and the recent intensification of the sovereign debt crisis in Europe and the United States, China's economy has still maintained rapid growth, and the sharp contrast in fundamentals has supported the strength of w88 online casino betting.
The impact of the strengthening of w88 online casino betting exchange rate on the Chinese economy is generally positive
It will not have a big impact on exports, and the nominal effective exchange rate remains stable or even depreciates slightly
Experts believe that the strengthening of w88 online casino betting exchange rate has an overall positive impact on the Chinese economy. It is conducive to controlling inflation in the short term and conducive to economic transformation in the medium and long term.
At present, my country's imports are growing rapidly, and many of the imported commodities are bulk commodities such as iron ore and crude oil. In the past period, rising prices of imported goods have become one of the factors increasing domestic inflationary pressure. "Exchange rate is not a special tool to control inflation, but an appreciation of the exchange rate can objectively reduce the domestic price of imported goods and help alleviate imported inflation pressure."Ding ZhijieSay.
Lian Ping, chief economist of the Bank of Communications, believes that the increased flexibility of w88 online casino betting exchange rate will promote the coastal export industry to improve technology, innovate products, and transfer to the central and western regions; at the same time, it will guide the allocation of resources from the export sector to domestic demand sectors such as the service industry, reducing the economy's over-reliance on exports. “These are all conducive to industrial upgrading, structural optimization, and transformation of economic development methods.” Lian Ping said.
Will the strengthening of w88 online casino betting exchange rate affect the operations of export companies?Ding ZhijieBelieve that w88 online casino betting is broken6.4The pass is the result of market forces such as exports and w88 surplus. This in itself shows that Chinese goods are highly competitive internationally, so the strengthening of the RMB exchange rate will not have a big impact on exports.
In fact, despite last year6month19Since the Bank of Japan announced to further promote the reform of w88 online casino betting exchange rate formation mechanism, w88 online casino betting has appreciated cumulatively against the US dollar6.7%, but since w88 online casino betting has depreciated to varying degrees against the Japanese yen, euro, pound, etc., the nominal effective exchange rate, which reflects the overall level of w88 online casino betting exchange rate, has basically remained stable or even depreciated slightly.
For the common people, a stronger RMB exchange rate means that w88 online casino betting in your hands is more valuable, and it is more cost-effective when traveling, consuming, and studying abroad.
In general, it will continue to be strong in the future
It will show the characteristics of two-way fluctuations and enhanced elasticity, and phased depreciation is also possible
Will w88 online casino betting continue to strengthen in the next stage? Experts believe that the current debt problems in Europe and the United States caused by the downgrade of U.S. debt continue to ferment. The loose monetary policies of developed countries will be maintained for a long time. The possibility of the United States launching a new round of quantitative easing policy cannot be ruled out. As a result, major currencies may depreciate. Overall, w88 online casino betting will continue to maintain its strong position in the foreign exchange market.
ButDing ZhijieAlso said frankly that although the U.S. dollar will show a depreciating trend in the medium term, due to the unresolved European debt issue and capital's risk aversion considerations, it is likely to push the U.S. dollar to stage a periodic rebound or even a strong rebound. Therefore, a periodic depreciation of w88 online casino betting in the future is also possible. In short, it will show the characteristics of two-way fluctuations and increased flexibility.
3. China Internet TV Station:
The exchange rate of RMB against the US dollar rose above 6.4
The exchange rate of RMB against the U.S. dollar has risen sharply recently. On the 11th, the central parity rate of RMB against the U.S. dollar broke through the 6.40 mark for the first time, setting a new high since the exchange rate reform.
The continuous appreciation is related to the global macro background
The latest data from the China Foreign Exchange Trading Center shows that the central parity rate of w88 online casino betting against the U.S. dollar rose sharply by 176 basis points on the 11th from the previous trading day to 639.91 points. This is the first time that the central parity rate of w88 online casino betting against the U.S. dollar has risen above the 6.40 mark.
In recent times, the pace of appreciation of w88 online casino betting exchange rate against the US dollar has accelerated significantly. In the four trading days since Monday, the central parity rate of w88 online casino betting against the US dollar has jumped a cumulative 314 basis points. Since the resumption of exchange rate reform on June 19 last year, w88 online casino betting exchange rate against the US dollar has appreciated by 6.7%.
"In the short term, the appreciation of the RMB is mainly affected by the w88 data in July. In July, my country's exports reached a record high of US$175.13 billion, and the w88 surplus exceeded US$30 billion, also hitting the highest point since January 2009."Ding Zhijie, Dean of the w88 casino of Finance, w88 casinoPoint out.
Ding Zhijiebelieves that despite the slowdown in the economic recovery of major economies and the intensification of the sovereign debt crisis in Europe and the United States, the Chinese economy has still maintained a relatively rapid growth rate. This is the macro background for w88 online casino betting to emerge from the continuous jump.
Appreciation helps curb imported inflation
Analysts believe that moving w88 online casino betting exchange rate closer to the equilibrium level will help optimize resource allocation and adjust economic structure.
In addition, experts also pointed out that with the Federal Reserve reaffirming its continued low interest rate policy, the continued weakness of the U.S. dollar will undoubtedly become a high-probability event in the global financial market. In the long run, it will lead to an increase in international commodity prices and increase my country's imported inflationary pressure. The appreciation of w88 online casino betting will help hedge this risk.
Ding Zhijiebelieves that after w88 online casino betting appreciates, export companies will generally transfer part of the pressure through price adjustments and share the cost of rising commodity prices between exporting and importing countries. This will, to a certain extent, inhibit the arbitrary quantitative easing monetary policy behavior of some countries.
Exchange rate will become a more important monetary policy tool
Various signs indicate that in the context of continued turmoil in the international financial market, exchange rate policy tools will play an increasingly important role among my country's many monetary policy tools in the future.
Li Xunlei, chief economist of Guotai Junan, believes that with the increasingly narrow space for raising the deposit reserve ratio and the continued easing of monetary policies in European and American countries, the central bank will rely more on RMB appreciation to maintain a certain degree of tightening.
"Changes in the international market have further advanced the time window for accelerated adjustment of w88 online casino betting exchange rate."Ding Zhijiebelieves that when the global financial market is turbulent and international investors have too much time to take care of themselves, taking action on w88 online casino betting exchange rate policy at this time can avoid the interference of arbitrage speculative capital.
In the view of Zhang Ming, deputy director of the International Finance Office of the Institute of World Economics of the Chinese Academy of Social Sciences, China should use this opportunity to expand the daily average fluctuation of w88 online casino betting exchange rate against major currencies, break the market's unilateral appreciation expectations, and allow w88 online casino betting exchange rate to truly fluctuate against the US dollar. (According to Xinhua News Agency, Beijing, August 11)
Link:
http://news.cntv.cn/20110812/101227.shtml
