Report: China's currency not manipulated
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The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages.
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Chinese stocks have been slammed, but that doesn't mean they're done.
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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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China is willing to promote flexibility of its currency, but it will keep the yuan "basically stable at a reasonable, balanced level," Vice Premier Wu Yi said on Thursday.
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WASHINGTON : China, invited to the table of the world&#39;s top financial powers for the first time, did not appear to buckle to pressure to speed up moves to adjust or end a currency peg that many say distorts global trade flows.
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Chinese capital spending in November barely slowed from record heights despite curbs on lending, showing that the central bank's task in keeping the economy from overheating remains formidable.
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China&#39;s policy of fixing the value of its currency to the dollar has made government efforts to slow its economy more difficult, the US Treasury Department said in a semi-annual report
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China is willing to promote  flexibility of its currency, but it will keep the yuan  &quot;basically stable at a reasonable, balanced level,&quot; Vice  Premier Wu Yi said on Thursday.
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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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&quot;The price performance in China remains stable on the whole,&quot; said Governor of the People&#39;s Bank of China Zhou Xiaochuan on Sunday.
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China on Monday emphasized its determination to keep its currency stable despite ongoing pressure from the United States.
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WASHINGTON (CBS.MW) -- Chinese finance officials repeated Friday their commitment to move toward a flexible, market-based foreign exchange rate but didn&#39;t outline specific plans to do so after consultations with US economic officials Thursday.
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China says its $1.3 trillion reserves have not been invested in the volatile US subprime sector.
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Tuesdayâs report said the Chinese had made strides in revaluing their currency, but that the progress was âconsiderably less than is needed.â
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Group of Seven finance officials are likely to press this weekend for greater currency flexibility in Asia, but analysts doubt China will be singled out to any greater degree than it was in the last meeting.
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The US Treasury Department said that China should move to a flexible exchange rate as soon as possible, but stopped short of issuing a formal finding that Beijing is manipulating the exchange value of the yuan.
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Officials say the country will move away from peg of 8.28 yuan to the dollar amid US pressure. WASHINGTON  - Chinese officials reiterated that the country would move toward a flexible foreign exchange