Beijing prodded on currency issue
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For the sake of the global economy, China needs to accelerate the pace of currency reform and overhaul its economy to be less dependent on exports, Treasury Secretary Henry Paulson said Wednesday.
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U.S. lawmakers have resurrected a petition seeking a formal investigation of China's currency policy, in a challenge of the Bush administration's handling of trade relations with Beijing.
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China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.
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An Asian Development Bank official called on East Asian countries to ensure that their currencies rose in unison with the dollar.
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China came under pressure on Saturday   to let its currency rise faster to ease imbalances in trade and   capital flows that pose one of the biggest risks to global   growth.
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China's yuan is not substantially  undervalued given the country's balance of payments, but it  will manage capital flows with the aim of eventually making the  currency convertible on the capital account, China's central  bank governor said.
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U.S. Treasury Secretary Henry Paulson urged China on Thursday to make its currency more flexible as a prelude to a freely floating exchange rate in the medium term.
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BEIJING, Dec. 15 -- China today declined to make any firm commitments regarding changes to its exchange rate, despite continuous pressure from U.S. officials over two days of high-level strategic economic talks.
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G7 finance ministers say China should allow its currency, the yuan, to rise more quickly to ease inflation pressures.
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Washington, Oct. 2: In the face of growing international pressure, Chinese officials told top US officials on Friday that they would continue to push ahead with plans to float or revalue their currency, but
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Treasury Secretary Henry M. Paulson Jr. is expected to encourage China to strengthen its currency, an apparent contradiction to his public backing for a strong dollar.
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WASHINGTON: The International Monetary Fund yesterday called on China to drop the yuan currency&#39;s tight peg to the dollar to help keep domestic inflation under control and bring more balance to the global economy.
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Pressure is growing on Beijingâs financial leaders to tap their foreign exchange reserves for social spending.
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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  Friday said he was optimistic that China intends to introduce  more flexibility into its currency but said Beijing must match  actions to its words.
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China made its debut last night in the club of the world's leading economic powers, asinternational pressure mounts to change a decade-old currency peg that critics accuse of giving Chinese products an unfair competitive edge.
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China's central bank sought on Friday  to soothe concerns over its first interest rate hike in nearly  a decade, saying it will not have a big impact on the economy  or the pegged yuan currency.