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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 se
nior 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 excha
nge 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.
is 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
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
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 Univer
sity of International Business and Economics in Beijing. James Collins, CEO of Corteva Agriscience, the agricultural division of US-bas
Pont, 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.
ld correct our mistakes when we have made any and guard against them when we have not.
should address young people’s concerns in employment, starting business, integrating into the society, love, marriage and making friends, carin
g for the elderly and raising children, so as to cre
ate favorable conditions for their development. We should educate and guide young people to view the world pr
operly, to understand the national conditio
ns comprehensively, and to grasp the trend of the era.
Communist Youth League asked to mobilize youth for Chinese Dream The Communist Youth League of China (CYLC) shall unite and lead Chi
nese youth of the new era to strive for the Chinese D
ream of national rejuvenation. The CYLC should serve their duties of guiding and uniting the youth, mobilizing them, connecting them and providing services.
Youth urged to have concerns for humanityThe Chinese youth should work for the building of a community with a shared future for humanity.