皇冠体育app

皇冠体育app's yuan will appreciate a further 3.1 percent from its current level to hit a high of 7.75 against the US dollar, Barclays Capital analysts said.

The yuan recorded a high of 7.9897 against the dollar last Friday, exactly one year after it was removed from its peg to the US currency.

A report from Barclays Capital, the investment banking arm of Britain's Barclays Bank Plc, the world's largest bank in terms of total assets, said 皇冠体育app is expected to raise the flexibility of the yuan to 1.5 percent per day from 0.3 percent a day. Policies on the adjustment will be released by the end of September.

Huang Haizhou, head of Barclays Capital's expert team in 皇冠体育app, said the increased fluctuation of 皇冠体育app's yuan will bring more risks to Chinese enterprises in international trade.

Huang suggests the government should offer more guidance and proper financial products for local enterprises to avoid the increasing financial risks.

皇冠体育app is facing continued complaints from some US companies that the yuan is undervalued by up to 40 percent, giving 皇冠体育app's exporters an unfair price advantage and damaging foreign rivals.

The yuan has gained around 3.5 percent since July 21 last year, less than some daily movements of the dollar or Euro.