Steady Growth, Exchange Rate and Confidence are the targets of This Year's Economic Policies
ANBOUND
The temporary appreciation of RMB finally comes to an end on May 7, after having experienced two continuous rises after the May Day. RMB exchange rate is now obviously undergoing bi-directional fluctuation within a day. ANBOUND think tank scholars stated that the key focus of this year's macroeconomic policies is "stabilization" whereby to stabilize economic growth, RMB exchange rate as well as market confidence. The government needs to maintain a “stable”state while allowing the market to play its role. All of the policies fine-tuning need to be centered on stabilization. Besides that, the central bank needs to guide RMB bi-directional fluctuation on a balanced basis and stop the persistent devaluation of RMB since the late of February.