China-Fed Rate Hike/Response
FILE: Washington D.C., U.S. - Exact Date Unknown
1. U.S. Federal Reserve building
2. Statue
Beijing, China - Jan 19, 2017
3. SOUNDBITE(Chinese) Wang Chunying, spokeswoman with State Administration of Foreign Exchange (partially overlaid with shots 4-11):
"The spillover effect caused by the US Federal Reserve's interest rate hike is is at a global level. When the related economies are all hit by the hike, its own economic fundamentals would play a decisive role, which determines how much impact, strong or less, the country would endure. China's economic development, stability of its financial market and its social stability perform well on a global scale. That gives us certain advantages in coping with the interest rate hike by the U.S. Federal Reserve. We need to closely watch the process of the US Fed's interest rate hike as well as the rally trend of U.S. dollars. Judged from the current market operation, the dollar's exchange rate will fluctuate. Overall, recently the U.S. dollar index has fallen compared with that at the very beginning of the year. There are questions and divergences in the market over the long-term exchange rate of the U.S. dollar, mainly it will depend on the new U.S. administration's implementation of its policies and their actual results."
FILE: China - Exact Date and Location Unknown
4. Various of workers in factory
5. Various of mechanical arm working
6. Workers in factory
FILE: Washington D.C., USA - Exact Date Unknown
7. Sign of U.S. Federal Reserve
FILE: China - Exact Date and Location Unknown
8. Various of staffs at bank
9. Various of U.S. dollars
10. Various of people in bank for banking service
11. Various of staff counting U.S. dollars
Beijing, China - Jan 19, 2017
12. Press conference in progress
China has certain advantages in coping with the interest rate hike by the United States Federal Reserve, said Wang Chunying, spokeswoman with the State Administration of Foreign Exchange (SAFE) at a press conference in Beijing on Thursday.
The US Federal Reserve increased its interest rate last December. Further interest rate rises are expected this year.
Wang Chunying said, comparing the two rate hikes at the end of 2015 and of 2016, possible rises in the future might have less impact on China's cross-border capital flow, because of China's improved capability to dissolve external influence.
"The spillover effect caused by the US Federal Reserve's interest rate hike is is at a global level. When the related economies are all hit by the hike, its own economic fundamentals would play a decisive role, which determines how much impact, strong or less, the country would endure. China's economic development, stability of its financial market and its social stability perform well on a global scale. That gives us certain advantages in coping with the interest rate hike by the U.S. Federal Reserve," said Wang.
After the U.S. Fed increased interest rate at the end of 2015, there was anticipation that it would raise interest rate three or four times in 2016. However, there was only one interest rate hike in 2016.
"We need to closely watch the process of the US Fed's interest rate hike as well as the rally trend of U.S. dollars. Judged from the current market operation, the dollar's exchange rate will fluctuate. Overall, recently the U.S. dollar index has fallen compared with that at the very beginning of the year. There are questions and divergences in the market over the long-term exchange rate of the U.S. dollar, mainly it will depend on the new U.S. administration's implementation of its policies and their actual results," said Wang.
China-Fed Rate Hike/Response
Dateline : Jan 19, 2017/File
Location : Beijing,China
Duration : 1'05
FILE: Washington D.C., U.S. - Exact Date Unknown
1. U.S. Federal Reserve building
2. Statue
Beijing, China - Jan 19, 2017
3. SOUNDBITE(Chinese) Wang Chunying, spokeswoman with State Administration of Foreign Exchange (partially overlaid with shots 4-11):
"The spillover effect caused by the US Federal Reserve's interest rate hike is is at a global level. When the related economies are all hit by the hike, its own economic fundamentals would play a decisive role, which determines how much impact, strong or less, the country would endure. China's economic development, stability of its financial market and its social stability perform well on a global scale. That gives us certain advantages in coping with the interest rate hike by the U.S. Federal Reserve. We need to closely watch the process of the US Fed's interest rate hike as well as the rally trend of U.S. dollars. Judged from the current market operation, the dollar's exchange rate will fluctuate. Overall, recently the U.S. dollar index has fallen compared with that at the very beginning of the year. There are questions and divergences in the market over the long-term exchange rate of the U.S. dollar, mainly it will depend on the new U.S. administration's implementation of its policies and their actual results."
FILE: China - Exact Date and Location Unknown
4. Various of workers in factory
5. Various of mechanical arm working
6. Workers in factory
FILE: Washington D.C., USA - Exact Date Unknown
7. Sign of U.S. Federal Reserve
FILE: China - Exact Date and Location Unknown
8. Various of staffs at bank
9. Various of U.S. dollars
10. Various of people in bank for banking service
11. Various of staff counting U.S. dollars
Beijing, China - Jan 19, 2017
12. Press conference in progress
China has certain advantages in coping with the interest rate hike by the United States Federal Reserve, said Wang Chunying, spokeswoman with the State Administration of Foreign Exchange (SAFE) at a press conference in Beijing on Thursday.
The US Federal Reserve increased its interest rate last December. Further interest rate rises are expected this year.
Wang Chunying said, comparing the two rate hikes at the end of 2015 and of 2016, possible rises in the future might have less impact on China's cross-border capital flow, because of China's improved capability to dissolve external influence.
"The spillover effect caused by the US Federal Reserve's interest rate hike is is at a global level. When the related economies are all hit by the hike, its own economic fundamentals would play a decisive role, which determines how much impact, strong or less, the country would endure. China's economic development, stability of its financial market and its social stability perform well on a global scale. That gives us certain advantages in coping with the interest rate hike by the U.S. Federal Reserve," said Wang.
After the U.S. Fed increased interest rate at the end of 2015, there was anticipation that it would raise interest rate three or four times in 2016. However, there was only one interest rate hike in 2016.
"We need to closely watch the process of the US Fed's interest rate hike as well as the rally trend of U.S. dollars. Judged from the current market operation, the dollar's exchange rate will fluctuate. Overall, recently the U.S. dollar index has fallen compared with that at the very beginning of the year. There are questions and divergences in the market over the long-term exchange rate of the U.S. dollar, mainly it will depend on the new U.S. administration's implementation of its policies and their actual results," said Wang.
ID : 8041254
Published : 2017-01-19 22:14
Last Modified : 2017-05-10 16:44:00
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
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