China Urged to Keep Moving Toward Market Forex Rate
World Economy

China Urged to Keep Moving Toward Market Forex Rate

US Treasury Secretary Jack Lew said on Sunday that it was critical for China to continue moving toward a more market-oriented exchange rate and clearly communicate its actions to the market.
Lew made the remarks during a meeting with Chinese Vice Premier Wang Yang in Beijing, following the G20 finance ministers’ summit in Shanghai, Reuters reported.
“As the global economy faces many challenges, our open and frank communications are more important than ever, and we must continue to work together for the benefit of both of our nations,” Lew said.
“We welcome China’s efforts to transition to a more consumption-driven economy, including through fiscal policies that support household demand and actions that reduce excess industrial capacity. We also look forward to seeing continued reforms in the financial sector that also strengthen financial stability,” he added.
“It is also critical that China continue to move toward a more market-determined exchange rate and transparent exchange rate policy in an orderly manner and clearly communicate its actions to the market.”
The world’s top economies declared on Saturday after the meeting that they need to look beyond ultra-low interest rates and printing money to shake the global economy out of its torpor, while renewing their focus on structural reform to spark activity.


Short URL : https://goo.gl/Tg8tHR
  1. https://goo.gl/0bnjpP
  • https://goo.gl/TcB0J5
  • https://goo.gl/JmWlrU
  • https://goo.gl/ixiIMz
  • https://goo.gl/rYQVol

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...