China: No Rush to Reform Forex Regime
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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'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, China's central bank governor 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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DAVOS, Switzerland  - China has lost faith in the stability of the U.S. dollar and its first priority is to broaden the exchange rate for its currency from the dollar to a more flexible basket of currencies, a top Chinese economist said Wednesday at the World Economic Forum.
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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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Interest rate hikes won't slow China's overheating GDP. Expect new controls on investment and credit.
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China can manage to slow its roaring economy to a sustainable level, but only if it avoids loosening curbs on lending and investment too quickly, the International Monetary Fund said Wednesday.
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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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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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China may adjust its currency&#39;s peg to the dollar within a year by fixing the yuan against a basket of currencies rather than adopting a floating exchange-rate regime, according to JPMorgan Private Bank.
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China promises the United States greater exchange rate flexibility, but gives no firm commitments.
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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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Beijing. (Interfax-China) - China will speed up economic restructuring and reform and the adoption of market-based systems. Meanwhile, China will continue to maintain its open-door policies and meeting its
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BEIJING : China&#39;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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Treasury Secretary Henry Paulson will urge the Chinese to adopt economic reforms, including a more flexible currency
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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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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 U.S. officials.