China Should Promote Long-Term Appreciation Of Yuan

China should promote the appreciation of the yuan in the long run and keep the currency stable, as excessive depreciation would increase the cost of imports and hurt exports, given that a considerable proportion of China's exports are supported by imports, said Han Yongwen, vice chairman at the China Center for International Economic Exchanges. Meanwhile, to stabilise market expectations, it is also necessary to promote the rebound of the stock market value via institutional reforms, stabilise foreign investment growth and guarantee the delivery of unfinished housing projects, said Han. (Source: 21st Century Business Herald)