China indicated the possibility of increase of rate of the yuan against the backdrop of growing criticism of China’s monetary policy from the developed countries, said on Wednesday the British Financial Times.
Against the background of data that may indicate the increase in the rate of growth in China, the Central Bank of China said on Wednesday that the formulation of monetary policy, the “capital flows and movements in major currencies,” would be taken into account, which is a confirmation of the quantity of speculative inflows into China capital and the low rate of U.S. dollar.
The new wording, which was included in the quarterly report on monetary policy of the Central Bank of China, came a few days before the first visit of Obama to Beijing, where he intends to raise the issue of China’s currency.
This statement also reflects the growing international pressure on China, particularly from the EU and Japan, in order to encourage the authorities of China to raise yuan.
Economists say that the new wording of the Central Bank of China will give more freedom of action, but it does not mean the change of monetary policy in the nearest future.
You can receive china visa here.