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et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at
tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.
According to Guo, the short-term fluctuation of the RMB exchan
ge rate was normal, and the depreciation will not last long given the stable economic growth base.
“Any speculative activities to short the RMB will suffer huge losses,” he warned.
The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou
nd 6.89 per dollar for eight days from May 20, and market watchers said market-oriented depreciation pressure was losing steam.
Yi Gang, the central bank governor, has said several times that the PBOC has ceased
direct intervention in foreign exchange markets, and the performance of RMB is address
On May 22, on her own program, The Point With Liu Xin, Liu a top anchor on the English-languag
e channel of CGTN, said the $600 billion figure is an estimate by a nonprofit organization that had not been verified.
Liu said it refers to the US’ possible IP loss to the world in a year, according to the organization’s report, China Daily reported.
She said Regan’s points were “all emotion” with “little substance”.
Regan responded on Twitter: “Hey #China State TV – let’s have an HONEST debate on #trade. You
accuse me of being ’emotional’ and not knowing my facts – wrong! You name the time and place, and I’ll be there!”
In accepting the challenge, Liu wrote on Twitter: “My name is not #China State TV. It’s LIU Xin and ple
ase, feel free to call me Xin. … But I don’t want to play any mud throwing game, if that’s what you prepare to do.”
tmosphere in the city during the Duanwu Festival, said the official. But the decision has been t
aken for good reasons. It’s all about the children, an investment in the future, the official said.
More than 10 million students across the country will sit for the gaokao this year.
he much-anticipated debate between a Chinese anchorwoman and an A
merican counterpart on a prime-time TV show Wednesday night turned out to be more like
a Q&A session, with the host and her guest disputing everything from tariffs to China’s developing nation status.
But Trish Regan, host of Trish Regan Primetime on the Fox Business N
etwork, and Liu Xin, who anchors The Point on China Global Television Network, or CGT
N, seemed to agree that something must be done to break the impasse between China and the US, which are em
broiled in a protracted trade dispute with the Trump administration escalating tariffs and Beijing retaliating.
types of onshore commodity futures contracts without registering a Chinese entity, and will continuously improve the relate
d rules, Lu Dongsheng, an official with the China Securities Regulatory Commission, told a forum on Tuesday
Lu also announced other measures to develop China’s commodity fut
ures market, such as accelerating the launch of ricThe Shanghai Futures Exchange will open
up its nonferrous metals futures contracts to foreign investors, Jiang Yan, Party secretary of the exchange, said at the s
ame forum. The bourGuo Shuqing, head of the China Banking and Insurance Regulatory Commissiose will also list a n
ew type of futures contract, TSR20 Rubber, which will be available to both domestic and foreign investors, he sai
d.Lu also announced other measures to develop China’s commodity futures market, such as accelerating the launch of
uled to become a shareholder of the joint venture by the end of 2019, holding at least 1 percent of i
ts equity. According to Chinese norms, it is mandatory for international brands to produce vehicles in China bearing its names.
Luca de Meo, CEO of SEAT, said: “China is the benchmark country for electric vehicles. We aim to be a part of this ecos
ystem in order to exchange knowledge and make progress in achieving global mobility that is more sustainable.”
Currently, JAC, Volkswagen and SEAT are building a 4 billion yuan ($579 million) research and development center in Hefei, which is expected to open in 2021.
JAC and SEAT also plan to develop their own platform for smaller electric cars, a segment that is growing faster than the large-sized ones in China.
“The close cooperation between SEAT and JAC will allow us to create synergies, which wil
l significantly increase our market coverage,” said Volkswagen CEO Herbert Diess, who is also chairman of SEAT.