Chen Deming: The Direction Of RMB Exchange Rate Reform Remains Unchanged

Comprehensive Xinhua news agency, China's commerce minister Chen Deming said 21, the Chinese government will continue to implement a proactive fiscal policy and moderately loose monetary policy, and it is too early to implement the exit strategy.

He also said that the RMB exchange rate reform will continue to adhere to the established direction.

Chen Deming co chaired the twenty-fourth China EU economic and trade mixed committee in Brussels on the same day with EU Trade Commissioner Degut.

Speaking at a press conference after the meeting, he said that the Chinese government is highly concerned about the debt crisis in the eurozone countries. The crisis shows that there are still many uncertainties and unstable factors in the recovery of the world economy. Under such circumstances, the Chinese government will continue to implement a proactive fiscal policy and moderately loose monetary policy, and it is too early to implement the exit strategy.

On the issue of RMB exchange rate, Chen Deming said that maintaining the value of the main currencies, including the renminbi, will help the global economy out of the crisis, and the RMB exchange rate reform will continue to adhere to the established direction.

He said that the RMB exchange rate is China's sovereignty issue and the direction of RMB exchange rate reform is unwavering.

Chen Deming said that the current economic crisis is still over, and that the currencies of all countries, including the renminbi, remain stable in value. Major devaluation or appreciation of any major currency will bring unpredictable harm to the world economy.

Recently, as the European debt crisis intensified, the euro depreciated sharply.

Chen Deming said that the Chinese government is highly concerned about the crisis, and hopes and believes that the joint action of the European Union and the International Monetary Fund can bring the crisis to an early end, and also hopes to see a stable and strong euro.