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| Opinion |
| Yuan Not to See a Continued Depreciation | |
| Chinese economists believe that the yuan exchange rate will remain stable | |
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As of 2015, the yuan has kept depreciating against the U.S. dollar due to the economic slowdown both home and abroad. But there is no basis for yuan to see a continued depreciation in the future, according to the Chinese official economic statistics and the 2015 Government Work Report released by Premier Li Keqiang at the ongoing Two Sessions.
"It is impossible for yuan to see large depreciation. China's foreign trade remains stable and depreciation of yuan will not be needed to sustain its growth."
"The yuan exchange rate is not as risky as it is being made out to be in rumors. The basis of the yuan's stabilization is rooted in China's economic and financial development."
China's labor productivity and total factor productivity keep increasing steadily. It has a large-scale favorable balance of trade in commodities, surging FDI and ODI figures, as well as ample foreign exchange reserves. Therefore, the yuan exchange rate, in a mid-and-long term, will basically remain stable at an appropriate level. Copyedited by Bryan Michael Galvan Comments to chenran@bjreview.com |
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Li Yining, member of the 12th National Committee of the CPPCC, economist
Li Ruogu, member of the 12th National Committee of the CPPCC, former chairman of the Export-Import Bank of China
Yi Gang, member of the 12th National Committee of the CPPCC, vice governor of the People's Bank of China 
