China Economy: Expert on 2017 foreign exchange data
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For more on the newly-released forex data, Mr. Liu Zhiqin, senior fellow at the Chongyang Institute for Financial Studies told us that the figures were a very healthy and positive development for our foreign exchange market.
LIU ZHIQIN SENIOR FELLOW, CHONGYANG INSTITUTE FOR FINANCIAL STUDIES RENMIN UNIVERSITY OF CHINA "We can see the figures tell us a lot of stories behind this development of the economy. In principal we can see that the figures show that a very positive and healthy development in the forex business. The forex business is mainly referring to foreign trade business, what do we pay and what do we have to receive, from import to export business we can see tendancy and trends of trade business in the moment. So we are satisfied with the result. We can see that both numbers are quite equal and quite balanced. That's a much better improvement comparing to last year. Because last year and two years before, we have imbalance in forex business that makes us very nervous about our forex reserve and other issues in this field. Now the gap is narrowed compared to the figures in 2016, that is a good improvement. That shows that our principal policy is now effective, and the structure of business and trade also come to a good end with good performance. So we are satisfied with all these figures now because all these business will support the whole GDP development in China so we can see where the GDP comes. That is the major part of the figure."