China presents fall in Currency Reserves is Good prognosis
Case of international currency reserves, China is good news for the long term and the Renminbi, also, which is a "turning point", may be overvalued in recent years, according to a statement Monday says the Chinese Central Bank Adviser fan.
The official said that Beijing, take action, around the leak that led to the devaluation of capital to limit-is a country to avoid foreign exchange reserves dropped to a minimum of six years in December, rapid fluctuations.
"The Renminbi might be overvalued in three or four years (...), was the turning point." This needs to be fixed, fan said in an interview with Bloomberg.
"We talked about trade and the development of national financial nonsense from developed countries about the ineffectiveness of $4 trillion in stock" added fan.
Fan said the Government would not see any change in state parks. And although China is not entirely abandon capital controls, is unlikely.
China's foreign currency reserves fell $41 billion in December to 3011 trillion showed the Central Bank on Saturday. Descent, is known to punish Beijing in a positive action, speculators, preventing the money per week.
Fan said China with Yuan basket of SDR (SDR) of the International Monetary Fund in international currency, which means that China must keep a small reserve currency for international loans.
Last year against 6.6% Yuan per dollar, the biggest fall since 1994, is expected to drop in 2017, if the currency of the United States continued their stripes.
