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IMF Urges China to Allow Greater RMB Exchange Rate Flexibility; Strong Foreign Trade Eases Capital Outflow Pressure
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Thomas Helbling, Deputy Director of the Asia and Pacific Department at the International Monetary Fund (IMF), said the organization has urged China to allow greater flexibility in the RMB exchange rate in order to improve the monetary policy transmission mechanism and support economic rebalancing. He noted that China has allowed the RMB to appreciate in line with market forces, which he believes reflects economic fundamentals. He added that Chinas trade surplus has continued to expand, and with strong trade performance, some capital outflow pressure has been alleviated. Therefore, RMB appreciation is in line with expectations. (fc/u) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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