UPDATE 1-US says G7 to discuss forex flexibility with China
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A meeting of finance ministers and central bankers from the world&#39;s wealthy nations with Chinese counterparts on Oct. 1 will be a key opportunity to discuss
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CHINESE President Hu Jintao told his US counterpart George W. Bush that Beijing planned to loosen the yuan&#39;s decade-old peg to the dollar, but only under stable economic conditions, an official said.
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A communique issued in Chile by finance ministers of the Asia-Pacific Economic Forum conveys an impression that currency flexibility in China is a rather long work-in-progress, if it&#39;s even that.
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China and the U.S. agreed to allow the Nasdaq market and New York Stock Exchange open formal business offices in China, Chinese Finance Minister Jin Renqing announced Friday at the end of two days of high-level talks with U.S. officials.
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China promises the United States greater exchange rate flexibility, but gives no firm commitments.
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French Economy Minister Christine Lagarde said on Tuesday that G7 countries had asked China to accelerate the appreciation of the yuan, and said markets were beginning to hear the U.S. message on the strong dollar.
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WASHINGTON - The Bush administration, seeking to achieve an economic breakthrough in the closing weeks of an election campaign, says China has made a serious commitment to overhauling a currency system that American manufacturers see as a major culprit in the soaring U.S. trade deficit...
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G7 leaders renew pressure on China to relax controls over its yuan currency, at the end of their meeting in Germany.
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US Treasury Secretary John Snow said China is ``intent&#39;&#39; on changing its exchange rate system and doing so would benefit the Chinese and global economies.
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The G7 free-market powers agreed  to single out China again in repeat appeals on Saturday for  flexible exchange rates, but Japan's tumbling yen escaped a  similar fate despite mounting concern in Europe.
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DAVOS, Switzerland  - China told the world on  Saturday it will not rush to reform its pegged exchange rate  regime, dashing hopes for a breakthrough on currency issues at  next week's Group of Seven finance ministers' meeting.
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China pledged to ``push ahead firmly and steadily&#39;&#39; toward a more flexible exchange rate without providing a timetable for the shift from a currency peg that is criticized by the Group of Seven industrial nations.
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U.S. Treasury Secretary John Snow on  Tuesday pledged a renewed drive to get countries like China to  adopt flexible currency rates so that U.S. trade deficits do  not continue to swell.
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President Bush is likely to raise U.S. concerns about China's currency policies when he meets at a summit in Chile with Chinese President Hu Jintao, a senior U.S. official said on Wednesday.
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The dollar firmed against the yen on Monday after a meeting of the Group of Seven (G7) industrial nations on Friday offered no surprises and the market turned its attention to upcoming speeches by U.S. monetary officials.
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U.S. Treasury Secretary Henry Paulson   said on Friday that the United States and China agree currency   flexibility is "very important."
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The Group of Seven (G7) industrialised nations urges China to be more flexible on its currency.