Central bank vice-governor voices confidence amid currency volatility
The monetary authority vowed to stabilize the renminbi amid escala
ted trade tensions, while continuing to push forward financial opening-up and pr
otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.
“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma
rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi
ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.
Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do
llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h
I hope all Asian countries will respect and trust each other, co-exist in harmony, expand cross-border, cross-time-and-space as well as cross-civ
ilization exchanges, and jointly maintain the peaceful time that is more valuable than gold.
Asian people expect Asia of common prosperity
I hope all Asian countries will jointly promote economic globalization that is open, inclusiv
e, balanced, and beneficial to all, and work together to eliminate poverty and backwardness in some countries.
Civilizations will lose vitality if countries go back to isolation and cut themselves off from the rest of the world.
Mutual respect, equal treatment among civilizations stressed
It is foolish to believe that one’s race and civilization are superior to
others, and it is disastrous to willfully reshape or even replace other civilizations.
various social conflicts, and said efforts must be made to address legitimate and lawful concerns to safeguard public int
erests, and also guide the public in voicing their concerns in a law-based manner to maintain social order.
Strong pressure must be maintained to crack down on crimes such as organized gang activity, violent and terroristic cri
mes, as well as those related to fraud, robbery, food and drug safety, and environmental protection, Xi said.
Calling social fairness and justice a lifeline for judicial and law enforcement work, Xi called for improving the mec
hanism of the use of power in law enforcement as well as the supervision over such powers.
Efforts should be made to help the public feel fairness and justice in every case, Xi said.
He also urged public security staff to improve their work so that human rights can be guarant
eed while crime is fought, and fairness can be ensured while efficiency of law enforcement is pursued.
ic and trade consultations, with a goal of implementing the consensuses President Xi Jinping and US President Donald Trump r
eached in December, said Xue Rongjiu, deputy director of the China Society for WTO Studies in Beijing.
China has made various moves recently to expand the new round of reform and opening-up — such as the approval of the Foreign Investm
ent Law in March and further facilitating trade connectivity under the Belt and Road Initiative. It will cont
inue opening its market in a proactive, steady and orderly manner, in accordance with its own development ne
eds and its own pace and timetable, to benefit Chinese and global consumers across the world, said Tu Xinquan, a pro
fessor of international trade at the University of International Business and Economics in Beijing.
James Collins, CEO of Corteva Agriscience, the agricultural division of US-bas
ed DowDuPont, said he hopes the two countries will reach a positive resolution, to benefit both countries and the re
st of the world. Collins said his firm was “not so much affected” in the short term by China-US trade tensions.