BEIJING (Xinhua) – The Renminbi exchange rate will remain stable in 2015, a macro economic report from China International Capital Corporation (CICC) predicted Monday.
“Despite the weaker spot exchange rate of the Renminbi against the dollar, the appreciation of the central parity rate highlights the People’s Bank of China’s (PBOC) policy intention to stabilise the exchange rate,” said the report.
China recorded a current account surplus of 152.7 billion US dollars in the first three quarters of 2014, which represented 2.2 per cent of the GDP. The figure is expected to rise further to 3 per cent in 2015, according to CICC.
China also recorded a large capital account surplus of 68.7 billion US dollars over the first three quarters of 2014. With China’s economic risk falling, it is expected that the country will continue to run a capital account surplus in 2015.