March 17, 1998 (February 19) Tiger years, China has promised not to devalue the yuan. In 17,


1998 newly appointed Premier Zhu Rongji announced a system to ensure. He said, we must ensure that this year China's economic growth rate reached 8%, the inflation rate is less than 3%, the depreciation of the RMB is not.
from the Asian economic crisis last year, the RMB became the focus of attention. In the case of Asian countries, the continuous depreciation of the currency, reduced imports, not to depreciate easier said than done, and many people are skeptical, especially after the encounter century floods in China, such doubts soon became a fad rumors international financial speculators attacked the Hong Kong stock market flares.
However, the people it touches on the RMB are confident, there is no where to buying surge, we all know, Prime Minister Zhu has always been tough and never acts, not to mention he has always been not to engage in construction advocated by the invoice sub. He said long ago: "light tickets, they did not make up the basic construction, the final result is inflation, inflation to a certain extent, have returned to more harm than good. "In the year of 1998 proved, not only did the depreciation of the RMB, and even a little appreciation of it. People are emotionally special worthless money this year, things are also cheaper than last year. Not devaluing the renminbi, in addition to people outside, many countries have benefited, many national leaders in a meeting with Chinese leaders, the first sentence is adhere to the policy of not devaluing the renminbi appreciation or thanks.