RMB exchange rate policy remains stable

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Influenced by the market turbulence in the US, the Chinese renminbi has appreciated against the US dollar to hit a record high.

The RMB gained 19 basis points on Friday to trade at nearly 6.4 per US dollar. Addressing the issue, China's Commerce Minister Chen Deming said China's exchange rate policy will remain stable.

Chen Deming, Chinese Commerce Minister, said, "The exchange rate of the RMB will be influenced to some degree by the international market. And when the international financial and capital market is undergoing changes, there will be a bigger impact. But in the long run, China's exchange rate policy won't change. We will continue to conduct independent, progressive and controllable policies concerning exchange rate reform."

Chen made the remarks during the 10th Economic Ministers' Meeting between China and ASEAN. He led the Chinese delegation in Friday's talks with ten ASEAN member countries in Indonesia.

Participants in the meeting hailed the achievements made since the China-ASEAN dialogue mechanism was established 20 years ago. They also spoke highly on the enforcement of the China-ASEAN Framework Agreement on Comprehensive Economic Cooperation.

Chen said currently the international financial market is undergoing tremendous turbulence and there's growing uncertainty in economic recovery. He proposed that China and ASEAN should enhance economic cooperation, in order to maintain regional economic stability.

Editor:Zhang Pengfei |Source: CNTV.CN


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