China's currency Renminbi is gradually appreciating and the revaluation is having a positive impact on overall trade balance, an official of the Chinese central bank said on Monday.
“Renminbi has been appreciating gradually... As flexibility of the currency increases and with reforms happening, the overall impact on trade balance will grow.
“Surely, renminbi revaluation is having a positive impact on overall trade balance,” People's Bank of China Deputy Director-General (Research Bureau), Ms Wang Yu, said here.
She was speaking at the ‘China and India: Sustaining High Quality Growth' conference, co-organised by the International Monetary Fund (IMF).
The currency has appreciated about 28 per cent since economic reforms started in the country, she said.
The economic reforms in China started around 1978.