2020年CRI China to avoid currency devaluation to boost exports

 

China's Central Bank Governor, Yi Gang says China and the United States have discussed avoiding currency devaluation to boost exports during their trade negotiations¹.

Yi Gang was speaking at a news conference on the sidelines of the country's legislature session underway in Beijing.

He says China will continue to implement² prudent³ monetary⁴ policy.

Speaking in Beijing, China's Central Bank Governor, Yi Gang told the media that China and the US negotiators reached a consensus⁵ on a number of crucial issues during their latest round of trade talks late last month in Washington.

Without devulging what was agreed on, Yi Gang highlighted what was discussed, which included the need to observe the autonomy of each other's monetary policy.

"The two sides discussed how to respect the autonomy of each other's monetary authorities in determining the monetary policy. Secondly⁶, we discussed mutual⁷ adherence⁸ to the market-decided exchange rate."

The issue of exchange rates is a long-standing topic between the two countries. Yi Gang – who has been part of the Chinese team at the trade talks with the US - said both sides pledged to abide⁹ by the commitments made at previous G20 summits. He further said they also discussed the need to disclose data in line with the International Monetary Fund standards.

"We discussed to honor the commitments made at previous G20 summits such as choosing not to adopt competitive depreciation¹⁰, not to use exchange rates for competition purpose, and maintain close communication on foreign exchange markets."

The Central Bank Chief told the media that China's prudent monetary policy has not changed. He said the prudent policy should stress counter-cyclical adjustment, and ease or tighten¹¹ when appropriate. As China faces a period of slowing economic growth, Yi Gang reiterated¹² the stance of focusing on supporting the private sector¹³.

"This prudent monetary policy should have a better structure. That is to say, more efforts will be made to support small and micro businesses and private companies."

Yi Gang says China's monetary policy, mainly devised to fit the domestic economic situation, will also take into account global factors and China's position in the global economic system, as well as the export-oriented sectors¹⁴. He said the prudent monetary policy should strike a balance between internal and external factors.

1 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

2 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

3 prudent   

adj.谨慎的，有远见的，精打细算的

参考例句：

• A prudent traveller never disparages his own country.聪明的旅行者从不贬低自己的国家。
• You must school yourself to be modest and prudent.你要学会谦虚谨慎。

4 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

5 consensus   

n.(意见等的)一致，一致同意，共识

参考例句：

• Can we reach a consensus on this issue?我们能在这个问题上取得一致意见吗？
• What is the consensus of opinion at the afternoon meeting?下午会议上一致的意见是什么？

6 secondly   

adv.第二，其次

参考例句：

• Secondly,use your own head and present your point of view.第二，动脑筋提出自己的见解。
• Secondly it is necessary to define the applied load.其次，需要确定所作用的载荷。

7 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。

8 adherence   

n.信奉，依附，坚持，固着

参考例句：

• He was well known for his adherence to the rules.他因遵循这些规定而出名。
• The teacher demanded adherence to the rules.老师要求学生们遵守纪律。

9 abide   

vi.遵守；坚持；vt.忍受

参考例句：

• You must abide by the results of your mistakes.你必须承担你的错误所造成的后果。
• If you join the club,you have to abide by its rules.如果你参加俱乐部，你就得遵守它的规章。

10 depreciation   

n.价值低落，贬值，蔑视，贬低

参考例句：

• She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
• They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。

11 tighten   

v.(使)变紧；(使)绷紧

参考例句：

• Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
• Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。

12 reiterated   

反复地说，重申( reiterate的过去式和过去分词 )

参考例句：

• "Well, I want to know about it,'she reiterated. “嗯，我一定要知道你的休假日期，"她重复说。 来自英汉文学 - 嘉莉妹妹
• Some twenty-two years later President Polk reiterated and elaborated upon these principles. 大约二十二年之后，波尔克总统重申这些原则并且刻意阐释一番。

13 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

14 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》