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| Bo Xilai, Chinese Trade Minister. | ||
AFX News - "China is adopting an extremely prudent attitude considering that it is opening every sector of its economy." |
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| Gao Hucheng, China vice-minister of Commerce. | ||
Reuters - "China is facing a period of frequent trade disputes, and how to safeguard industrial security is now a significant and practical subject to be studied." |
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| Bai Li, spokesman for the People's Bank of China. | ||
| “As far as we know, there's no adjustment expected in the yuan exchange rate…It's up to the market to explain any market activities." (after a technical glitch moved the yuan’s peg) |
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| Wei Benhua, Deputy Director of the State Administration of Foreign Exchange. | ||
| China Daily -“Don’t forget China has a deficit with Japan, some ASEAN countries, and a number of European countries. We need to consider the issue in a worldwide context,… [The US trade deficit] is your problem. You need to put your own house in order before you blame your neighbor.” |
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| Zhou Xiaochuan, Chief at China's central bank. | ||
I won.money - "China might respond to international pressure. If the pressure is not high, we can do our reform step by step, according to our own priorities. But if the international pressure is strong, that's not bad because it will force us to speed up the reform." |
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| Wei Benhua, Deputy Director of the State Administration of Foreign Exchange. | ||
I won.money - "China has no time schedule for the reform. I cannot decide a proper time until the basic conditions mature. Referring to speculation, both domestic and international, that Beijing could loosen its exchange rate for the yuan in the second half of this year or early next year." |
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| Li Zhaoxing, China Foreign Minister. | ||
Reuters - "Any decision on currency policy will be based on the actual conditions of China and the interests of both the Chinese and our neighbours, even the whole world's interests." |
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| Wen Jiabao, China Premier. | ||
The Bank of New York - "We would continue to move ahead with our exchange rate formation mechanism reform in order to make the exchange rate of our currency more responsive to the market trends." |
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| Long Yongtu, China former trade negotiator. | ||
The Bank of New York - "It is unlikely that China will change its forex regime in the foreseeable future because we are not guilty of manipulating the exchange value. If you want to liberalize the exchange rate system and capital account you have to have a very strong banking system and secondary market and you have to have a very strong regulatory system." |
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| Fan Gang, Director of the National Economic Research Institute of China. | ||
The Bank of New York - (Regarding he timing of any reform of the currency regime) "The question is when will they do that? This I cannot answer. But what I speculate is that the Chinese government is not able to do that because speculation in the market is too high." |
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| Wu Xiaoling, deputy governor of the People's Bank of China. | ||
AFX News - "Don't ask the central bank governor when he will raise interest rates, when he will change the forex rate. The governor won't answer such questions." |
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| Wen Jiabao, China Premier. | ||
China Daily - "Work on the exchange rate reform is in progress…Our purpose is to make the exchange rate more responsive to supply and demand in the market…Regarding the timing of the reform and measures to be adopted, maybe they will come around unexpectedly…China is a responsible country. When we decide upon the revaluation of our currency, or reforming our exchange rate regime, we must take into consideration not only our domestic interests but also possible impact on neighbouring countries and the world." |
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| Guo Shuqing, Director of State Administration of Foreign Exchange. | ||
"Capital inflow is an important part of China's overseas economy. We hope relevant sides join hands with us to restrain speculative capital." |
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"There is no timetable for the exchange rate reform…It is a complicated job and should be done step by step…Only on this basis can we make research into and map out scientific plans on the rate reform and carry out it at the right time…Very importantly, state-owned commercial banks and rural credit cooperatives in China have quickened their pace of reform, while financial enterprises are sharpening their capacity of managing business risks." |
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