On SteelHome Events: 2011 China Steel Market Seminar, Tan Yaling, standing director of China Institute of International Economic Relations delivered the speech on current international financial situation & its outlook for 2011, and predicted that RMB is limited to appreciate in the future and will expand to devalue.

As per major economic indexes in Q3, Ms.Tan argued that American economic structure is improving and has entered into a benign growth period and is unlikely to suffer a second bottom. However, American Federal Reserve Committee is still concerned about its economic development, in a bid to boost economic growth, US plans to restart a quantitative easing monetary policy.

As far as financial market is concerned, the pattern of international financial market will return from Three Kingdoms into monopoly, which is characterized with dollar as its core and assisted by yen, the status of GBP is improving, however that of EURO is confronted with crisis. It is estimated that US dollar will accelerate to devalue from H2 2010 to H1 2011. USD index will fluctuate ranging from 70 to 90 points.

As respect to future RMB trend, Ms. Tang thinks real-estate market and risk in financial institutes are two important affected factors. China should make great effort to prevent risks in the above fields.