Former PBoC policy member warns of renminbi depreciation risk

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02 Jun 2011

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The renminbi may stop appreciating against the greenback in the near future, according to Fan Gang, a director of National Institute of Economic Research and former academic member of monetary policy committee of People's Bank of China.

Fan told a China Daily forum held in Hong Kong today that the renminbi appreciated 5% against the greenback last year and pointed our there is a 4-percentage-point difference in inflation between the China and the US, so, in real terms, the renminbi appreciated

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