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The central bank ordered China: expand the floating range of RMB exchange rate

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2014 cross-border renminbi business cum on monitoring analytical work meeting held on February 17 to 18. Meeting in-depth study of the party's 18, eighteen Third Plenary Session of the Central Economic Work Conference and the People's Bank in 2014 working conference, summed up the 2013 cross-border renminbi business cum on monitoring analytical work, the deployment of 2014 Work. PBC Party Committee, Deputy Governor Hu Lian attended the meeting. 

Ms. Hu fully affirmed the 2013 cross-border renminbi business and analytical work on monitoring the achievements of the new analysis of the current situation facing the internationalization of the RMB, the next step to carry out cross-border RMB business and related monitoring and analysis requests, and to emphasize the following points: First, we must strengthen the initiative, combined with the macroeconomic situation and our overall strategic layout, more targeted cross-border RMB business services; second is to do cross-border RMB business innovation pilot tracking, feedback, summary, improvement and promotion; third is to promote cross-border renminbi business to the interest rate market, the RMB convertible under capital and financial markets open and consider financial reform, promote each other; fourth is to further strengthen cross-border RMB business organizations and institutions construction; five is to mobilize enterprises, banks and other aspects of motivation to play the strength of the community, and guide the healthy development of cross-border RMB business; six is ​​to strengthen the monitoring and analysis work, adhere to the principle of serving the real economy, and effectively prevent risks. 

The meeting held that, in 2013, cross-border RMB business continues to expand, monetary cooperation to further expand renminbi capital account convertibility steadily, gradually improve the RMB exchange rate formation mechanism, monitoring and analysis of the orderly conduct of monetary policy. 

The meeting stressed that, in 2014, to continue to expand RMB cross-border use, improve the relevant policies; steadily expanding bilateral monetary cooperation, exchange of funds utilized flow channels; accelerate capital account convertibility, changing cross-border capital flow management; gradually improve the RMB exchange rate formation mechanism and orderly expansion of the exchange rate band; further play to the functions of the Monetary Policy Committee Consultation Procedure, multi-level and angle to listen to all points of view. 

China PBOC Shanghai headquarters, branches and business management departments, provinces (capital) city center branches, sub-provincial city center branch of the cross-border renminbi business and comrades monetary and credit sector, the People's Bank of China and the relevant departments of enterprises Unit responsible comrades attended the meeting. 

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