Zhou Xiaochuan Rate Quotations

What the premier said means that China would continue to increase the flexibility of the RMB exchange rate in a gradual manner.

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.

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.

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.

We will have decontrol of interest rates and foreign exchange.

In the 1980s, Chinese companies tried to get out of the traditional, centrally planned economy and become market players. In the 1990s, many Chinese companies tried to restructure their company structure, to have ownership diversification, to go public domestically or internationally, and then to learn to set up new corporate governance. And after that, I think Chinese companies are looking more and more to the global competition.

We think (we) can allow market supply and demand to gradually bring about a greater effect on the exchange rate float.

I think it's very clear that China is introducing a new exchange rate mechanism. It is not a one-time adjustment.

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.