LINE

    Text:AAAPrint
    Economy

    No need to stimulate exports by devaluating RMB: central bank governor

    1
    2016-03-12 11:48Xinhua Editor: Wang Fan
    Zhou Xiaochuan, governor of the People's Bank of China, answers questions at a press conference on the financial reform and development on the sidelines of the fourth session of the 12th National People's Congress in Beijing, capital of China, March 12, 2016. (Xinhua/LiXin)

    Zhou Xiaochuan, governor of the People's Bank of China, answers questions at a press conference on the financial reform and development on the sidelines of the fourth session of the 12th National People's Congress in Beijing, capital of China, March 12, 2016. (Xinhua/LiXin)

    Despite sluggish foreign trade, there is no need for China to resort to special measures to improve competitiveness of its exports, central bank governor said Saturday. [Special coverage]

    "China's products are still competitive in the global market," said Zhou Xiaochuan, governor of the People's Bank of China, at a press conference on the sidelines of the ongoing annual parliamentary session.

    The depreciation of the Chinese currency renminbi, or the yuan, stoked concerns that China may count on the falling currency to prop up its foreign trade.

    However, Zhou dismissed the concerns and said the market should pay more attention to China's net exports, citing nearly 600 billion U.S. dollars of goods trade surplus in 2015.

    "The share of China's exports edged up in the global trade," Zhou said.

    Weighed on by weak global demand, exports slumped more than 20 percent in February, the sharpest drop since May 2009, while imports dropped 8 percent.

    Zhou attributed the lackluster data to plunging global commodity prices, especially crude oil, and said China actually imported more goods last year. "The imports of crude, copper, grain and soybean rose and only those of coal and aluminum saw drops."

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 鄄城县| 安达市| 沙坪坝区| 庆安县| 绥芬河市| 长阳| 衡东县| 吉林省| 阜康市| 广安市| 马公市| 江西省| 镇平县| 渭南市| 萨迦县| 海门市| 盖州市| 灵台县| 秦皇岛市| 吉水县| 嫩江县| 元氏县| 绥芬河市| 河北省| 湟源县| 个旧市| 德清县| 本溪市| 西乡县| 谷城县| 通辽市| 弥渡县| 永泰县| 高雄县| 吴川市| 黔西县| 景谷| 项城市| 哈巴河县| 洞头县| 天峨县|