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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (31521)	6/6/2005 3:13:37 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

China MoF official says conditions not right for floating yuan Monday, June 6, 2005 6:24:19 AM afxpress.com SHANGHAI (AFX) - Conditions are not right for floating the yuan, since China has not yet established an effective risk management system, China Business News reported, citing Lou Jiwei, deputy governor of Ministry of Finance US and European countries calling for a freeing of the yuan peg as early as possible have developed financial systems and do not need to worry about systemic risks associated with such a move, the newspaper reported, citing Lou China's financial markets provide few hedge instruments for the exchange rate, and Chinese companies that seldom hedge their foreign exposure will bear the cost of exchange rate fluctuations if the yuan regime is reformed, Lou said

To: ild who wrote (31521)	6/6/2005 3:15:13 AM
From: mishedlo	Respond to of 116555

China has achieved target of ´soft landing´ - finance minister Monday, June 6, 2005 6:30:50 AM afxpress.com China has achieved target of 'soft landing' - finance minister UPDATE (Updating with Jin quotes) BEIJING (AFX) - Finance minister Jin Renqing said China has achieved its goal of bringing the economy to a so-called "soft landing" - or a growth slowdown without significant disruption - adding that reforms to the exchange rate regime are also on track Asked on the sidelines of a business luncheon how the government is managing the economic slowdown, intended to prevent overheating, Jin said: "We are doing very well, and have achieved our target." He added that exchange rate reforms are also on target, but did not elaborate