Central bank vice governor Yi Gang Indiana University awarded honorary doctorate

April 18, 2012, the People's Bank of China Deputy Governor, the Secretary for the State Administration of Foreign Exchange, Yi Gang, Indiana University (Indiana University) awarded an honorary doctorate. In the ceremony, Yi Gang, the equalizer and the China-US trade in RMB exchange rate to the theme of a keynote speech.

Yi Gang, had previously taught at Indiana University in the United States for many years, Indiana University's granted him an honorary doctorate recognizes made extraordinary contributions to the University of Sino-US educational exchanges as well as its outstanding achievements in the field of the present work.

Indiana University President Michael McRobbie to bring relevant school leaders and board members, Yi Gang, and then has taught in the Department of Economics teachers and students, as well as local political, business leaders attended the ceremony and related activities, the whole event in the friendly atmosphere of the old friends get together . Yi Gang said the first batch of the United States as the reform and opening up one of the students activities, and Indiana University, and friends there for up to 26 years of friendship, he witnessed the Sino-US educational exchanges and friendship of the two people developments.

Welcome luncheon held by the Indiana University Yi Gang, vice governor Yi Gang, China and the U.S. university education and cultural exchanges, the theme of a speech, saying through the exchange of students, etc., University of Sino-US Higher Education The exchange is an important link to strengthen mutual trust.

Indiana University President Michael McRobbie presided honorary humanities doctorate Yi Gang (Honorary Degree of Doctor of Humane Letters,) the ceremony, his speech, he spoke highly of Yi Gang made extraordinary contributions to the Sino-US University exchange as well as its outstanding achievements in the existing areas of work.

Yi Gang, while the RMB exchange rate towards equilibrium and the Sino-US trade as the theme of a keynote speech. He said that since the exchange rate reform in 2005, Chinese trade goods cost a significant increase in non-tradable goods, including real estate and the stock market, also reflects the yuan does not exist significant underestimation of the RMB exchange rate is gradually close to the equilibrium level. In his view, the crux of the U.S. trade deficit first is that the processing trade, China has been in the trade deficit from 2010 if this part is deducted. Second, the U.S. high-tech export restrictions to suppress China's import demand. Therefore, as long as the United States to relax export restrictions on high-tech, the U.S. trade deficit situation will be greatly improved