July 30, 2010 – BEIJING, July 30 (Reuters) - China's reform of its exchange rate regime is not having a major impact on the country's exporters, deputy central bank governor Hu Xiaolian said on Friday.
In an article posted on the website of the People's Bank of China, www.pbc.gov.cn, Hu said some exporters exaggerate the likely effect of a stronger exchange rate on their business.
Fears that a 3 percent rise in the yuan would drive exporters of textiles and light manufactured goods to the wall were misplaced, Hu said in the latest of a series of commentaries explaining the PBOC's June 19 depegging of the yuan and resumption of a managed float. (Reporting by Zhou Xin and Aileen Wang; Editing by Alan Wheatley)
