The US has warned Beijing not to go back to manipulating its currency, following a sharp depreciation of the renminbi since the start of 2014. |
一位美国官员周二警告中国不要再度操纵人民币汇率。自2014年初至今,人民币已大幅贬值。 |
“If the recent currency weakness signals a change in China’s policy away from allowing adjustment and moving toward a market-determined exchange rate, that would raise serious concerns,” said a senior Treasury official ahead of this week’s IMF, World Bank and G20 meetings in Washington. |
美国财政部一位高级官员在国际货币基金组织(IMF)、世界银行(World Bank)和20国集团(G20)本周在华盛顿召开会议前夕表示:“如果人民币汇率最近的下跌表明中国正在偏离它的政策,即允许更灵活的、由市场决定的汇率,那么这将引发严重担忧。” |
The renminbi has fallen more than 2.5 per cent against the US dollar since mid-February, a small amount for most emerging markets, but a dramatic shift for the Chinese currency following years of slow and steady appreciation. It trades at Rmb6.20 against the US dollar, roughly the same level as this time last year. |
自2月中旬以来,人民币兑美元汇率已累计下跌逾2.5%,对于多数新兴市场而言,这一跌幅并不大,但对于多年来一直在缓慢且稳定升值的人民币而言,这个跌幅是巨大的。目前人民币兑美元汇率为6.20元人民币,与去年这个时候大致相同。 |
The US comments highlight concern in Washington that China will be tempted to respond to a slowing economy by holding down its currency in order to boost exports. Such moves could lead China to reduce global demand at a time when several other regions of the world, such as the eurozone, are weak. That in turn could hamper US growth. |
这位政府官员的言论突显出美国政府的一种担心,即面对经济放缓,中国可能会压低人民币汇率以提振出口。中国这种做法可能会削弱全球需求,尤其是在欧元区等其他几个地区表现疲弱之际,进而会制约美国的经济增长。 |
However, most analysts believe that Beijing’s decision to weaken the renminbi was not a ploy to boost competitiveness. Instead, the authorities have sought to stamp out currency speculation from companies and investors who had treated the renminbi as a one-way bet by introducing more meaningful two-way volatility. It also has the positive side effect of increasing domestic liquidity at a time when stress within the financial system is rising. |
然而,大多数分析师认为,中国政府压低人民币汇率,并非意在提高出口竞争力,而是希望通过引入更显著的双向波动,打击单向押注于人民币升值的企业和投资者的外汇投机行为。在中国金融体系流动性压力上升之际,人民币贬值还能产生提高国内流动性的积极作用。 |
“To secure its own long-term growth and contribute more to global growth, China needs to shift to a growth model that relies more on consumption, and less on investment and exports,” said the Treasury official. |
美国财政部的这位官员表示:“为了取得长期增长,并为全球增长贡献更多力量,中国需要转向新的增长模式,更多的依赖消费,同时减少对投资和出口的依赖。” |