U.S. Treasury Department on Friday declared that no major trading partner of the U.S., including China, met the standard of manipulating its currency, while it retained six economies on a monitoring list created to indicate "unfair" currency practices.
In its Semi-Annual Report to Congress on International Economic and Exchange Rate Policies, the department said none of its major trading partners has manipulated their currencies over the past six months to keep them undervalued.
However, it still puts China, Japan, South Korea, China's Taiwan, Germany, and Switzerland on its Monitoring List, saying their foreign exchange policies bear close monitoring.
The Treasury Department created the list in April this year based on an analysis of three criteria, including a significant bilateral trade surplus with the U.S., a material current account surplus and engaging in persistent one-sided intervention in the foreign exchange market.
In the report, the department said that China met one of the criteria, a significant bilateral trade surplus with the U.S., instead of two as indicated in April's report.
The latest report explained that China's current account surplus fell to 2 percent of GDP in the first half of this year, moving below the established threshold for the criterion that current account surpluses in excess of 3 percent of GDP can be regarded as "material."
The other five economies met two of the three criteria each.
China's central bank has improved its communication on its exchange rate policy with the market since early this year and has taken measures to deal with the depreciation of its currency the renminbi, said the report.
It noted that core factors that have been supportive of the RMB remain in place, including high savings, a sizeable current account surplus, and GDP growth above the global average.
China's central bank governor Zhou Xiaochuan recently said in Washington that China will continue to enhance exchange rate flexibility while maintaining a relatively stable exchange rate. He added that China will firmly continue market-oriented reforms of its exchange rate mechanism.
C. Fred Bergsten, senior fellow at the Peterson Institute for International Economics, recently said at a forum that China does not manipulate its currency.
He noted that the Chinese economy is still growing at a relatively rapid pace, poses a high savings ratio and has significant amount of foreign reserves. All of these could support a relatively strong RMB, he added.
用于现在完成时的句型
一般现在时的用法
if从句之后可接表示将来的be going to吗
过去进行时
现在进行时
比较since和for
现在进行时表将来有哪些特点
时态、语态配套练习及答案
过去进行时用法一得
四种将来时态的用法归纳
一般现在时与现在进行时表示将来的区别
since的四种用法
时态与时间状语
用现在进行时表示将来
过去进行时与一般过去时的区别
现在完成时还是过去完成时
比较过去时与现在完成时
将来进行时的“温和效应”
时态一致
现在进行时与一般现在时的区别
用一般过去时代替完成时
一般现在时的七种用法
这个when后用一般现在时还是一般将来时
不用进行时的动词
过去完成时
表示将来的五种常用非时态方式
三种将来时间表示法的比较
将来进行时
be to和be going to
现在进行时代替将来时
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