Tributario e Fiscale

lunedì 25 luglio 2005

Il testo integrale della Nota con la quale la Repubblica Popolare Cinese ha annunciato lo sganciamento dello yuan dal dollaro (inglese).

Il testo integrale della Nota con la quale la Repubblica Popolare
Cinese ha annunciato lo “sganciamento” dello yuan dal
dollaro (inglese
).

Public Announcement of the People’s Bank of China on
Reforming the RMB Exchange Rate Regime July 21, 2005

With
a view to establish and improve the socialist market economic system in China,
enable the market to fully play its role in resource allocation as well as to
put in place and further strengthen the managed floating exchange rate regime
based on market supply and demand, the People’s Bank of China, with
authorization of the State Council, is hereby making the following
announcements regarding reforming the RMB [1] exchange rate regime:

1.
Starting from July 21, 2005, China
will reform the exchange rate regime by moving into a managed floating exchange
rate regime based on market supply and demand with reference to a basket of
currencies. RMB will no longer be pegged to the US dollar and the RMB exchange
rate regime will be improved with greater flexibility.

2.
The People’s Bank of China will announce the closing price of a foreign
currency such as the US dollar traded against the RMB in the inter-bank foreign
exchange market after the closing of the market on each working day, and will
make it the central parity for the trading against the RMB on the following
working day.

3.
The exchange rate of the US dollar against the RMB will be adjusted to 8.11 yuan per US dollar at the time of 19:00 hours of July 21,
2005. The foreign exchange designated banks may since adjust quotations of
foreign currencies to their customers.

4.
The daily trading price of the US dollar against the RMB in the inter-bank
foreign exchange market will continue to be allowed to float within a band of
/span>0.3 percent around the central parity published by the People’s Bank
of China, while the trading prices of the non-US dollar currencies against the
RMB will be allowed to move within a certain band announced by the People’s
Bank of China.

The
People’s Bank of China will make adjustment of the RMB exchange rate band when
necessary according to market development as well as the economic and financial
situation. The RMB exchange rate will be more flexible based on market
condition with reference to a basket of currencies. The People’s Bank of China
is responsible for maintaining the RMB exchange rate basically stable at an
adaptive and equilibrium level, so as to promote the basic equilibrium of the
balance of payments and safeguard macroeconomic and financial stability.