We have a very good start for the foreign exchange regime ... We also want liberalization of interest rates.
It will take time to do so. It's a process. Every investor wants to optimize his own portfolio or investment structure but that doesn't mean that the portfolio will change overnight.
Banks are in now in a dilemma, so most dare not drop the rate due to the fierce competition.
If the yuan rises too rapidly, a lot of overseas investors might move their factories or companies out of China.
Although the economic situation is sound, we need to pay attention.
If more and more enterprises and industries sell their U.S. dollars or foreign exchange maybe the yuan will have appreciation pressure. We don't want these kinds of capital flows to have a very strong impact on the economic growth trend.
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