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
Three officials in Wuxi, East China’s Jiangsu province, have been given Party and administrative
punishments on Thursday over an inappropriate question about whether kindergarten children wer
e involved in gangs, the local government said on its official Wechat account.
According to the government of Wuxi’s Xishan district, Feng Dongyan, director and Party ch
ief of the Xishan Education Bureau, has been given the punishment of warning within the Party.
Wang Zhaoyu, director of the educational bureau’s general office, has been given a serious war
ning within the Party and removed from office. Lu Zhongxian, director of the bureau’s educational equ
ipment and student aid management center, was also given a serious warning and dismissed.
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