U.S. says China recognizes need for stronger yuan
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XIANGHE, China  - U.S. Treasury Secretary Henry Paulson came away from two days of talks on Thursday convinced China sees the need for a stronger yuan and with a promise that Beijing will open its financial markets a little wider.
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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 on Wednesday said he was pushing China to speed up its  move toward greater currency flexibility, but he wants to  achieve more than that in the next two years.
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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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China vowed to move &quot;firmly and steadily&quot; toward a flexible exchange rate during a meeting of Chinese and US officials in Washington Thursday, the US Treasury Department said in a statement.
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U.S. lawmakers stepped up pressure on  China to boost the value of its currency as high-level talks  aimed at persuading the country to quicken economic reforms  moved toward a conclusion on Friday.
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More flexibility in China&#39;s yuan  currency exchange rate will not restrain the country&#39;s economic  growth and cause deflation, but instead will help China  rebalance its economy towards domestic consumption, a top U.S.  Treasury official said.
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BEIJING/WASHINGTON  - A more flexible yuan would not hold back China's growth or cause deflation but would help Beijing rebalance its economy towards domestic consumption, a top U.S. Treasury official said on Thursday.
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America has not changed its strong dollar policy and still expects China to make its own currency more flexible, a Treasury official said on Monday, shrugging off comments from Beijing that had jolted markets.
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In WASHINGTON story headlined &quot;IMF says loosening of yuan in China&#39;s interest&quot; please read in first paragraph ... undervalued ... instead of ... overvalued ... (corrects direction). WASHINGTON, Aug 25 (Reuters
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U.S. Treasury Under Secretary John Taylor said on Saturday that China was taking all the necessary steps toward introducing a flexible currency exchange rate that will benefit itself and the global economy.
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The Bush administration, facing huge and politically sensitive trade deficits, secured China&#39;s pledge Friday to work harder to move its currency toward a flexible exchange rate, which would make US goods more competitive abroad.
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U.S. Treasury Secretary Henry Paulson said on Friday that China's reluctance to let its currency appreciate remained a core bilateral issue but claimed some progress in talks on reducing trade imbalances.
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A group of influential US Senators are due to unveil legislation to force China to raise the value of its currency.
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U.S. Treasury Secretary Henry Paulson said Tuesday that the global economy is as strong as he's ever seen and that reforms in China would help lessen the kind of market volatility that has recently rocked international stock markets.
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U.S. Treasury Secretary John Snow  insisted on Friday there has been no weakening in the United  States&#039; commitment to a strong dollar and vowed to hold China&#039;s  &quot;feet to the fire&quot; over promises to make its currency more  flexible.
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China and the United States agreed on Friday that Beijing will pursue currency flexibility, while Washington will aim to increase national savings as part of joint efforts to reduce global economic imbalances.