CCTV.com - CNTV English - CCTV News

Chinese people react to RMB reform with mixed feelings

06-22-2010 08:57 BJT Special Report: China to Reform RMB Exchange Rate Regime |

Watch Video

Play Video

Leaders from around the world had their say about the de-pegging of the yuan from the dollar. But what do the Chinese people think? We asked them whether they think they'll be better off.

Residents in Beijing reacted to the news with mixed feelings.

Ms. Li, one Beijing resident said "I don't think we should be affected by the international market or by the international situation. We should maintain a strong RMB market."

Some are excited about the stronger purchasing power abroad.

Li Zhaoxin, one Beijing resident said "It will be cheaper for us ordinary people to buy things or travel abroad. Our purchasing power will be strengthened if the RMB appreciates. "

Parents are also glad. It should cost less to send their children overseas to study.

Xue Mei, one mother said "We are surely going to use Renminbi in exchange for foreign currency to pay for tuition and living expenses, when our child goes abroad. This way, it means that the costs for sending our child abroad are actually decreasing. Right?"

But businessmen are worried that exports will be hurt, and economic growth will be curbed.

Hu Wei, one businessman said "For the common man, this is perhaps not such a good thing. Because if the Renminbi appreciates a lot, then that'll affect our country's exports. Also, local desire for consumption isn't that high yet, hence there will be an imbalance. Therefore, this will most probably mean a period without much economic growth."

Businessmen are also worried that overseas investors will be less willing to invest in China, and overseas tourists less willing to travel and spend in China.

Editor:Xiong Qu |Source: CCTV.com

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program