The president of National Economic Research Institute, the previous consultant in PBOC Fan Gang said on Monday (January 10) that RMB is predicted to continue to surge up in the forex market, but the surging trend would be gradually.
The issue of the forex exchange rate of RMB would gain much more attention before the president of China Hu Jintao visited the United States. Fan Gang said it is predicted that a sharp increase of RMB for one time would not occur in the forex market and China would gradually loosen the limit on he foreign exchange rate in China.
Fan Gang predicted that the increase of GDP in 2010 would increase by 8 percent to 9 percent. It is predicted that the Chinese government would take some actions to deal with the pressure of inflation in the domestic market and take the tightening currency policy to slow down the increasing speed of the economy.
Edited by Laura in Ikon Group.
The issue of the forex exchange rate of RMB would gain much more attention before the president of China Hu Jintao visited the United States. Fan Gang said it is predicted that a sharp increase of RMB for one time would not occur in the forex market and China would gradually loosen the limit on he foreign exchange rate in China.
Fan Gang predicted that the increase of GDP in 2010 would increase by 8 percent to 9 percent. It is predicted that the Chinese government would take some actions to deal with the pressure of inflation in the domestic market and take the tightening currency policy to slow down the increasing speed of the economy.
Edited by Laura in Ikon Group.