China Refuses to Make Commitments on Exchange Rate
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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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Chinese authorities on Saturday again declined to set out a time-table to make their currency more flexible on the world's money markets and said they had not come under international pressure to revalue the yuan.
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China&#39;s leaders should not relax their efforts to cool the country&#39;s fast-growing economy, the International Monetary Fund has warned.
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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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Global finance chiefs sought a way  on Friday to put pressure on China to let its currency rise in  value to ease global trade imbalances and also aimed to craft a  message to soothe turbulent financial markets.
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U.S. Treasury Secretary Henry Paulson  urged China on Thursday to work toward a freely floating  currency, only to be told that America fails to understand how  Beijing is making headway on economic reform.
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China's foreign exchange regulator denied Wednesday that Beijing has manipulated the value of its tightly controlled currency, a politically volatile issue with the country's trading partners.
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China faced diplomatic pressure from   rich countries on Saturday to let its currency rise faster to   ease imbalances in trade and capital that pose one of the   biggest risks to the health of the global economy.
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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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The dollar rose in Asia after China gave the Group of Seven no timetable to move to a flexible exchange rate, resisting a US government effort to stop Asian nations weakening their currencies.
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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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WASHINGTON -- Despite pressure from Congress, the Bush administration on Wednesday refused to cite China as a country that manipulates its currency to gain unfair trade advantages.
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China called on U.S. lawmakers on Thursday to address issues such as the valuation of the yuan through a dialogue of equals instead of trying to put pressure on Beijing.
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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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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 avoided giving a date to begin the transformation.
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An economist has warned that China did not raise its interest rates enough to curb inflation, the China Daily reported. Tang Min, chief economist with the resident mission
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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.