Home / Markets
Saturday, March 13, 2010
CHINA NPC: Wen: Foreign Pressure To Appreciate Yuan Not Helpful
Dow Jones Newswires
BEIJING -(Dow Jones)- China Premier Wen Jiabao said Sunday foreign pressure to appreciate the yuan exchange rate doesn't help China's foreign-exchange reform, adding Beijing opposes external pressure on a country to appreciate its currency.
Wen said at a news conference the yuan hasn't been undervalued, and a stable yuan exchange rate level amid the global financial crisis has helped to promote the global economic recovery.
He said the real exchange rate of the yuan against the dollar rose in 2008-2009.
He was making his remarks at a news conference following the end of China's 10-day session of the National People's Congress, China's legislature.
-Liu Li and Aaron Back contributed to this article, Dow Jones Newswires; (8610) 8400-7711; li.liu@dowjones.com
Copyright © 2009 Dow Jones Newswires
Fox Business Video
-
-
Nokia Names New CEO
-
Sep 10, 2010
FOX Business Brief: Technology
-
-
-
Goolsbee Named Chairman of Cou...
-
Sep 10, 2010
FOX Business Brief: Government
-
-
-
Trump Offers to Buy Out Ground...
-
Sep 9, 2010
Bolling on attempts to move the mosque
-
-
-
Strategies for Success on the Job
-
Sep 9, 2010
Tools for managing effectively
-
-
-
Bartering Goods on the Web
-
Sep 9, 2010
Trading goods instead of exchanging money
-