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tions Research Institute, said that against the backdrop of growing globa
l discord, Xi’s visit demonstrates the strategic relationship of the two countries.
During Xi’s visit, the two leaders will attend a series of events commemorating the 70th anniversary of the establishment of bilater
al ties, which will include the official opening ceremony of a panda facility at Moscow Zoo, Zhang said. A pair of gia
nt pandas were delivered to Moscow Zoo in April for research cooperation.
St. Petersburg State University, Putin’s alma mater, will award Xi an h
onorary doctorate during the visit, Zhang said. P
utin was granted the same honor by Tsinghua University, Xi’s alma mater, in April.
et forces, and China has never taken any measures to deliberately devalue the currency to make its exports more at
tractive, said Guo, who is also head of the China Banking and Insurance Regulatory Commission.
According to Guo, the short-term fluctuation of the RMB exchan
ge rate was normal, and the depreciation will not last long given the stable economic growth base.
“Any speculative activities to short the RMB will suffer huge losses,” he warned.
The RMB’s daily trading reference, or the central parity for onshore trading, has been stabilized arou
nd 6.89 per dollar for eight days from May 20, and market watchers said market-oriented depreciation pressure was losing steam.
Yi Gang, the central bank governor, has said several times that the PBOC has ceased
direct intervention in foreign exchange markets, and the performance of RMB is address