Zhou xiaochuan (pictures)
Information times Roundup on 8 October, Zhou xiaochuan, Governor of the International Monetary Fund (IMF) at a press conference held by the small, answer questions about China's monetary policy. The media are the most concerned about RMB, xiaochuan China has consistently adhered to the gradual steady advance exchange market.
Exchange rate to medium and long term
Xiaochuan, on exchange rate from the medium and long term, it is not enough that the RMB float or reform stalled view is one-sided.
Zhou xiaochuan said that some countries shortly after the currency appreciation, often there will be depreciated, and the renminbi is continuous in the medium and long term, steady appreciation of one of the emerging market currencies.
A reporter asked IMF member countries have requested China "appreciation for share, greater responsibility for rumors, Zhou xiaochuan, do not think that is the mainstream public opinion: the IMF reform and burden-sharing is not a necessity. "In fact, China is in crisis is committed to providing $ 50 billion as the new borrowing arrangements" is China to replenish the global financial resources and contributions.
IMF Executive President Dominique · Strauss · Kahn in the previous several Conference: "If a nation goes to the center stage of international institutions, and of course also means greater accountability. "It is this attitude that some media begin to guess the appreciation of share transfer".
Zhou xiaochuan pointed out that this Conference is to strengthen the voice of the mainstream, so that the IMF representative of different types of countries, including emerging markets, on the IMF to have a greater sense of trust.
China hopes that the IMF has broad representation, from the world's confidence in the global economy rely on international forces become more healthy.
RMB difficult trade-
On the outside world requires a lot of appreciation of the Renminbi, Zhou xiaochuan, trade deficit in the country is facing pressure, high unemployment rate, would make some expect Chinese exchange rate appreciation of sound becomes strongly, but the appreciation of the Renminbi for solving this issue effects and uncertain.
He is convinced that as future economic recovery, employment recovery, some "noise" may subside.
Zhou xiaochuan, national policy makers should be "quiet" to consider the fundamental problems of the economy. "What's more, China began restructuring of the economy, the domestic demand, GDP is growing. "Zhou xiaochuan, and some similar power compared to the proportion of foreign demand may be high, but from a global perspective, China's export proportion of the GDP is not very prominent. This means that the surplus produce change, influence on economic growth might have not thought so much.
Zhou xiaochuan, responding to questions on the control of inflation, control inflation is the Central Bank's monetary policy, the main objective is to protect the purchasing power of different economic entities of the necessary means. Policy instrument chosen is a more complex issue, whether it is price-tool or number type tool, select the use of the Central Bank will take full account of international and domestic situation, if you compare the twists and turns, natural recovery would have on national economic policies have a significant impact.
In the successful application of a package of economic stimulus plan, domestic inflationary pressures increase, but the forecast is not only concerned about short-term changes, but also to observe the trend in the medium term, it should be said that in some cases it is not very clear.
There are no sufficient evidence that the number already in use-tools including reserve rate and open market operations to absorb liquidity, it is difficult to accomplish the goal of controlling inflation expectations.
Xiaochuan: "the Central Bank would continue to dynamically track economic statistics, adjusting the various policy tools, it is necessary to pay attention to inflation cannot be out of control, but also to take into account China's role in the global recovery, including our own stable, fast, sustainable growth, it's a balance. "
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