China's foreign exchange market has shown strong resilience and maintained stable operation in 2024, despite the complicated and changing external environment, said Zhu Hexin, deputy governor of the People's Bank of China, in Shanghai on Wednesday.
Speaking at the 2024 Lujiazui Forum, Zhu, also the head of the State Administration of Foreign Exchange, said the exchange rates of the Chinese yuan against major currencies have experienced both appreciation and depreciation.
However, Zhu emphasized that the exchange rate of Chinese yuan has remained relatively stable against a basket of currencies, indicating a more stable outlook for the yuan's exchange rate.
The balance of payments has sustained a basic equilibrium, and the current account has maintained a reasonable surplus, further solidifying their role in stabilizing the foreign exchange market, said Zhu.
Zhu stated that foreign investors exhibit a favorable inclination in allocating assets in Chinese yuan, adding that the size of foreign exchange reserves remains stable at over 3.2 trillion U.S. dollars.
According to Zhu, China's solid economic fundamentals and market resilience will continue to underpin the stable operation of its foreign exchange market in the future.
Themed "Promoting World Economic Growth with High-Quality Financial Development", the two-day 2024 Lujiazui Forum, a major financial event, kicked off in Shanghai on Wednesday.
China's forex market shows strong resilience, maintains stable operation in 2024: deputy governor
China's forex market shows strong resilience, maintains stable operation in 2024: deputy governor
China's forex market shows strong resilience, maintains stable operation in 2024: deputy governor
China's forex market shows strong resilience, maintains stable operation in 2024: deputy governor
A youth summer camp aimed to carry forward the spirit of the Flying Tigers and promote friendship and cultural exchanges between Chinese and American students was opened in Beijing on Wednesday.
The Flying Tigers, officially known as the American Volunteer Group of the Chinese Air Force, was formed in 1941 by U.S. General Claire Lee Chennault to help oppose the Japanese invasion of China during World War II.
After over eight decades, the stories about the Flying Tigers have been passed down from generation to generation in both China and the United States, with mutual friendship continuing to flourish, and with new vitality.
The summer camp, officially known as the Chinese Bridge Flying Tigers Summer Camp for American Students, was organized by the Center for Language Education and Cooperation under China's Ministry of Education and the Sino-American Aviation Heritage Foundation (SAAHF), and has attracted over 100 teachers and students from the United States and various regions of China.
Before the launching ceremony, the organizers, along with many Chinese students, prepared various Chinese folk activities and games for the overseas friends, such as trying traditional Chinese musical instruments, playing the Touhu or pitch-pot game, and experiencing paper-cutting techniques.
"I'm going to try the Chinese flute," said an American student.
"I pretty much enjoyed the pitch-pot game," said another American student.
Most of the students participating in the event were from friendly schools of the Flying Tigers, and some were even descendants of the Flying Tigers.
"Yes, he was in the Flying Tigers before I was born. He flew hundreds of mission. [I am expecting] to see a lot more history about the Flying Tigers, to have a lot more learning about it," said another summer camp student. "I think this is a wonderful moment to commemorate our solidarity with the students of the Flying Tigers summer camp and to strive for progress together," said Zhang Yiyuan, a Chinese student from central China's Hunan Province.
At the opening ceremony, Jeffrey Greene, chairman of the SAAHF, said that he hoped the campers can cherish and enjoy this journey, spend a fulfilling and meaningful time in China, and share the story of the Flying Tigers with more people.
Organizers said that they will launch five such youth summer camps in the next five years to deepen bilateral friendship and pass on the Flying Tigers spirit.
After the trip to Beijing, the campers will also go to southwest China's Yunnan Province, the birthplace of the Flying Tigers, to learn more about the stories of these war heroes, according to organizers.
Flying Tigers youth summer camp opens in Beijing
