China Says It Will Continue Currency Reform but at Gradual Pace
The Governor of China's central bank Zhou Xiaochuan stated on October 11, 2010 that China will continue reform of its currency exchange rate to improve its flexibility, but will do so in a gradual way. He added that a steep…
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rise of Chinese currency yuan would cause harm and that managing the currency requires taking into consideration many factors such as domestic inflation, unemployment, gross domestic product growth, balance of payments and other factors.