CONFIDENTIAL #
17
fetch
lower a
value
in
foreign currency terms due to the Renminbi depreciation, but the prices of those goods and services in China may well be raised along with the higher inflation. However, in the event that the exchange rate of
the Renminbi is stabilised whilst the inflation rate in
China remains high, the impact of the latter on outward processing activities and other business ventures in terms of external price competitiveness and China sales receipts could become greater.
Economic Analysis Division Financial Services Branch Government Secretariat 27 April 1993
GF 323
CONFIDENTIAL
機密