Banks’ head puzzling the saying of yuan up for one-time

When interviewed on 10, Zhou Xiaochuan, the head of bankers, said he himself really wondered where coming of the wording over the alter of exchange system to raise yuan for one time. He helplessly replied the reporter “where has the saying come from”, when asked of foreign media’s report on yuan’s appreciation during Bo’ao Forum for <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Asia.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

There are suspects spread recently about the coming rise of renminbi, which seems in line with yuan’s quotation on the day 7-8 height at 6.8259 against the dollar. What is more, on 9 China Exchange Trade Center closed at 6.8239 to the dollar, hit the record over 6 months.

Increased one time by 2 percent on July 21, 2005, the yaun has generally maintained more than 20 percent the rate of appreciation, accumulated with gradual steps of fine-tune adjustment. Premier Wen once clearly pointed there would no one- time ups any more, neither so-called unexpected happening.

In the panel discussion on “From G8 to G20”at Bo’ao forum, Zhou says the issue of development is always considered in priority in China, but it is not decisive of the central bank playing in the process of growth. The top duty burdened by the central bank would shift onto the steady of renminbi in prevention of inflation and expanded loans; on the other hand, to ensure the stability of financial market, and finally cooperating with colleague banks monitoring the coming risks.