Hu promises more steps on yuan
WASHINGTON (Reuters) – Chinese President Hu Jintao, in a
meeting with President Bush, promised to take more steps to
liberalize the yuan exchange-rate.
Under pressure to allow the yuan to appreciate more to
improve the climate for U.S. exports, Hu said China had already
launched a reform of its yuan policy and “in the future we will
continue to make efforts to improve” the yuan’s exchange rate.
But Hu gave no specifics on the timing of any move.