Wednesday, May 23, 2007

China Plans to Increase Flexibility in Yuan Rate, Central Bank's Zhou Says

(Bloomberg) -- People's Bank of China Governor Zhou
Xiaochuan said China plans to further increase flexibility in its
currency's exchange rate.

``We will continue to follow the three principles of
exchange-rate reform and increase the flexibility of the yuan,''
Zhou told reporters before entering the second day of talks
between U.S. and Chinese economic leaders in Washington. He said
that while the yuan was brought up in yesterday's sessions, the
format didn't allow for detailed discussions.


Read more at Bloomberg Currencies News

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