皇冠体育app

Economy

IMF welcomes 皇冠体育app's decision on further exchange rate reform

(Xinhua)
Updated: 2010-06-21 10:19
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WASHINGTON - The International Monetary Fund's chief Dominique Strauss-Kahn on Saturday welcomed 皇冠体育app's decision to further reform its exchange rate mechanism and said that the move will benefit Chinese consumers.

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皇冠体育app's announcement is "a very welcomed development," Strauss-Kahn said in a statement.

The move "will help increase Chinese household income and provide the incentives necessary to reorient investment toward industries that serve the Chinese consumer," he said.

The People's Bank of 皇冠体育app, 皇冠体育app's central bank, earlier on Saturday announced a decision to proceed further with the reform of the exchange rate regime to enhance the flexibility of the RMB's exchange rate.