China holds firm over yuan reform
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Chinese banking officials say they will not rush any moves to ease the yuan from its tight peg against the US dollar.
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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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China&#39;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.
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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.
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Chinese officials reiterated their country would move toward a flexible foreign exchange rate, but offered no new specifics on the timing in a joint statement issued on Friday after talks with high-level US officials.
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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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Chinese Premier Wen Jiabao signalled the country was in no rush to reform the yuan, and questioned why more hadn&#39;t been done to stop the dollar&#39;s slide, the strongest
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China has no immediate plans to let the value of its currency rise, despite renewed pressure at a weekend meeting of Group of Seven finance officials, the government said Monday.
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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 ...Comment
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Finance ministers and central bank governors from the Group of Seven industrialized countries held off taking any concrete actions Saturday to alter the value of the dollar, the euro or other currencies.
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Executives say that a revaluation of the yuan, whose exchange value is linked to the dollar, is unlikely to be a silver bullet for dealing with the American deficit.
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China's central bank has pledged to strengthen efforts to effectively manage the amount of cash in the financial system, according to the summary of a meeting held earlier this week that was published on Wednesday.
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US Senators go ahead with plans to target the yuan as the US Treasury rejects charges of manipulation.
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The International Monetary Fund said Friday China remains reluctant to float its currency. In its discussions with Chinese authorities about the country&#39;s economy, the IMF said
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China's central bank said it would take a &quot;gradual and safe&quot; approach to loosening the yuan-dollar peg, following International Monetary Fund (IMF) calls to let the currency float in a wider margin.
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The yen held near a five-year high versus  the dollar on Monday following comments by European Central  Bank (ECB) officials last week seen as urging China to revalue  its yuan currency.
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SYDNEY (Dow Jones)--Chinese copper demand will remain strong for the foreseeable future despite the central bank&#39;s decision to raise interest rates for the first time in close to a decade, leading producers in the Asia Pacific region said Friday.