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Reminbis Potential Revaluation and Our Policy

  Since April this year, the United States has continuously increased pressure on a revaluation of the Renminbi (RMB).

   On April 17, the US Treasury Department submitted a report to the Congress, demanding that the Chinese government reform its monetary system "without delay" in the coming six months, and threatening China with trade sanction. The report went so far as to charge that China's exchange rate policy hinders the adjustment to the unbalanced international market. On May 27, US Treasury Secretary John Snow resentfully indicated that he felt disappointed at China's delay in revaluating the RMB. He warned: a minor, symbolic appreciation of the RMB is not enough. (from People's daily Online )

   The Chinese currency is currently fixed to the value of the US Dollar, so as the value of US Dollar changes on international currency market, the relationship between the Chinese Renminbi and the US Dollar remain the same. Some countries say that this does not give a true indication of the strength of the Chinese currency internationally and there is pressure on China to change the current relationship to the US Dollar.  

   China Highlights Travel currently quotes tour prices in US Dollars. We are currently reviewing our policy in this matter.

1.    Should a revaluation of the Chinese Renminbi occur, China Highlights Travel will honor all quotations for tours that have been fully paid at the time of the revaluation.

2.    Customers who have not paid for their tour in full at the time of any revaluation will be required to pay the difference between the old and new price calculated in Renminbi.