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...
assume china data economists effective exchange failed fixing key rate recorded tests trade using
Some US economists assume that the exchange rate is the key to fixing the trade imbalance However, such assumptions failed in statistical tests by using the trade data and the real effective exchange rate recorded in China over the years.
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.
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.
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.
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.
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.
amount assets concerned dollar exchange foreign people reserves
The foreign exchange reserves are still growing. Some people are concerned that the amount of U.S. dollar assets in the reserves will fall. But that's not the case.
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These kinds of noises cannot change the various fundamental conditions and sequencing of China's exchange rate reform. They only interfere with the normal reform process.
attention bow change countries global issue pay pressure
We will not bow to pressure from other countries to change our policies, but we will still pay attention to every issue in the global economy.
basket currency dollar less reference share
The share of the US dollar in the currency basket that's used as a reference is much less than 50 percent.
bit chinese faster
Probably it could be a little bit faster but it is not the way of Chinese reformers to do things.
accept clearly concept currency defined economic
We don't accept the concept of currency manipulation; it is not a clearly defined economic concept.