Dai Xianglong: fluctuation of RMB exchange rate to be widened after entry of WTO

Dai Xianglong, chairman of Peopleˇ¦s bank of China, said flexibility of RMB rate would be enlarged after entry of WTO and China would continue to implement and improve existing exchange rate mechanism. He said China was optimist about domestic and international financial situation. The good domestic economic situation has been providing solid foundation to the stability of RMB. After entry of WTO, trade and investment situation will change and international income and expenses of China will change greatly. as well  He added a flexible exchange rate would follow accordingly but government would continue to fulfill and improve existing rate mechanism. He said government would adopt measures to reinforce competitive ability by expediting the process of commercialization of banks, supporting stable development of small-medium banks, continuously improving financial monitor system and training more and more financial talent. 

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