China Financial Daily

IMF: RMB appreciation will help rebalance the global economy as well as China’s economy
IMF Senior Advisor for Asia and the Pacific, Nigel Chalk in the June 9 press conference said, taking into account of the real effective exchange rate of RMB and foreign exchange reserves and current account surplus of future trends, he believes the RMB should appreciate further to help rebalance the Chinese economy .

China’s first quarterly trade deficit in six years is the relief for the pressure of RMB appreciation
April 10 General Administration of Customs of China released in the first quarter total of 1.02 billion U.S. dollars of trade deficit emerged for the first 6 years in China trade deficit of the current quarter . Experts believe that China’s foreign trade to achieve a basic balance between imports and exports, which will effectively alleviate the pressure of RMB appreciation .

The Customs statistics show that a quarter of China’s foreign trade import and export value 800.3 billion U.S. dollars , up 29.5% , of which exports amounted to 399.64 billion U.S. dollars , up 26.5% ; imports 400.66 billion U.S. dollars , up 32.6 %. In March, China exported 152.2 billion U.S. dollars , up 35.8% ; China imported 152.06 billion U.S. dollars , up 27.3% , monthly trade surplus of $ 140,000,000

RMB appreciation alleviates inflation
Central parity of RMB against the U.S. dollar hit another new high since the exchange reform. Analysts believe that the rate of 2011appreciation of RMB against the U.S. dollar may be greater than 2010, and will have a profound impact on economic life. RMB appreciation can inhibit the imported inflation, slowing China’s domestic economic pressures, and in the long period of time conducive to China’s economic restructuring and adjustment.