The United States wants to detour to promote the appreciation of RMB

Introduction: new page 1 Phoenix TV news on August 27: Although China has made it clear that it will continue to maintain the stability of the RMB exchange rate, the United States and Japan still do not give up lobbying China to relax the fluctuation range of the exchange rate Persuading China to adopt flexible policies to reflect its increasingly important economic position is more likely to change China's exchange rate policy than putting pressure on it, Treasury undersecretary for international affairs Taylor said Monday M7t Japanese finance minister Mashiro yankawa said he would discuss the issue of RMB exchange rate with snow, the US finance minister who visited Japan According to the Hong Kong business daily, he said that the two sides would only exchange views on the issue of the exchange rate of RMB, rather than make any conclusions on the exchange rate mechanism of RMB M7t US news pointed out that the RMB is the scapegoat M7t US New York Times pointed out that from the three years of high unemployment and manufacturing slump, American politicians and businessmen have finally found a target to blame for these troubles: China, or more specifically, the RMB The m7t article says the Bush administration is accelerating direct political pressure on the Chinese government, especially when Treasury Secretary snow visits Beijing next week M7t safe strictly inspected the cross-border hot money flow, and there was an expectation of appreciation of m7t RMB, and a large number of international hot money flowed into China The State Administration of foreign exchange has decided to conduct a special inspection on the foreign exchange collection and settlement business of designated foreign exchange banks in the near future The move is seen as a sign of China's crackdown on cross-border hot money flows M7t News revealed that since the second half of last year, the international hot money began to flow into China against the background of the expectation of RMB appreciation and the interest rate of RMB significantly higher than that of US dollar Some even estimate that tens of billions of dollars of hot money are pouring into China M7t According to the notice on special inspection of foreign exchange collection and settlement business of designated foreign exchange banks issued by the State Administration of foreign exchange recently, the main purpose of the special inspection is to fully understand the compliance of banks in handling foreign exchange collection and settlement business; to timely grasp and accurately analyze the current foreign exchange capital inflow and the trend of balance of payments changes, and to crack down on illegal cross-border capital flows; Third, investigate the implementation effect of the current foreign exchange management policies, and protect and facilitate legal capital flows On the other hand, the people's Bank of China on Saturday asked banks to raise the reserve ratio from the current 6.0% to 7.0% from September 21 The central bank said it would temporarily ease the pressure on banks by injecting 60 billion yuan into the money market and maintain the relative stability of interest rates in the money market M7t central bank will sell the reverse repurchase agreement to the bank in the inter-bank bond market, and the 7-day reverse repurchase agreement with the interest rate of 2.24% will inject funds into the market Banks will have the opportunity to sell their holdings to the central bank in exchange for cash The deal will be reversed in a week's time M7t