皇冠体育app

BEIJING – 皇冠体育app will allow the value of the yuan to float more freely, experts told reporters on the sidelines of ongoing Chinese People's Political Consultative Conference on Tuesday.

People's Bank of 皇冠体育app (PBOC) chief Zhou Xiaochuan said the exchange rate is now close to its balanced level, thanks to 皇冠体育app's improving industrial structure and shrinking trade surplus.

The PBOC sets a limit of 0.5 percent around the mid-day price, within which the exchange rate may vary.

Li Daokui, a policy adviser to the central bank, said a 0.75 percent daily trading range would be acceptable.

"The reform has to be carried out step by step. So for the first step, a 0.7 or 0.75-percent daily trading range is feasible," said Li, who is also director of the Center for 皇冠体育app in the World Economy at Tsinghua University

"Since the global financial crisis four years ago, 皇冠体育app has played an important role in rebalancing the world economy (by allowing the yuan to float more freely)," Li said. "皇冠体育app has already achieved substantial progress in reforming the yuan exchange rate."

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