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The following article was published in our article directory on April 14, 2011.
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RMB must rise to stimulate domestic demand development

Article Category: Business

Author Name: Amanda xzh

The April 14-16, boao Asia BBS 2011 annual meeting held in hainan boao, this year the theme is "inclusive convention: common agenda to develop new challenge". Tengxun as sole network partner, will this year BST. Tencent micro bo as sole micro bo partners, will with # boao # topic comprehensively and deeply with net friend interaction.

Vice President Kenneth fok ying tung group in an interview, said that financial tencent renminbi must rise, but steady development is the most important.

Kenneth think, China's economic development to now, only on exports is not enough, we must develop a domestic demand. "A lot of young people buy a house, after graduating for a family, no cash flow to consumption, this need careful, careful."

The following for interviews authentic records:
Tencent finance: do you have any opinion revalue the renminbi?
Kenneth: now the yuan is the international community the concern is, steady development is the most important, must want to rise, but to stable development.

Tencent finance: be also escalated?
Kenneth: right.
Tencent finance: you to the mainland property market is how to read?
Kenneth: mainland China's real estate market is a topic of more hot this year, have come on stage, including new clauses is restricted, etc. Just said that the real estate market has developed to a certain point, must be slow, should be suitable for the development of all levels of society development.

China's development in this position, we can't rely on exports development, must be domestic demand, sale in domestic market pull development. You see the American economy is people's consumption 70%. If you want to develop domestic demand, then you must have the cash flow to push, because now a lot of young people start buying graduate job has become a car, a mortgage slave, which come of money to spend? So must have the proper control.

Tencent finance: now many people would put buying as investment, they think that buys a house is profitable investment, and mainland investment variety relative not so rich.

Kenneth: yes, in the United States, for example, on average is 30 to 40 years old, can't afford to buy a house, but now the lease is different, the Chinese thought on investment attitude is to buy a house. I think it is also to be prudent, careful, such as the stock market in China before KuangSheng every day.

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