`China’s currency exchange rate responsive to market’
December 7th, 2011 - 1:44 pm ICT by IANSBeijing, Dec 7 (IANS) The exchange rate of the yuan is responsive to market demand and is not being manipulated by the government, a senior official said Wednesday.
Chong Quan, deputy representative for China’s international trade talks and former assistant to the minister of commerce, made the remark while talking to reporters at a press conference in Beijing.
“The recent depreciation of the yuan is a good phenomenon. It demonstrates that China’s foreign exchange rate is not controlled by the government, as some have claimed,” Xinhua quoted Chong as saying.
Chong said the currency’s appreciation or depreciation is responsive to market demand and will float freely with market changes.
- China's Canton trade fair opens - Oct 16, 2010
- China expresses opposition to US yuan bill - Oct 12, 2011
- Brazil must keep currency competitive, says minister - Mar 14, 2012
- Brazil not to take further steps to depreciate Real - Mar 24, 2012
- China's yuan drops against US dollar - Mar 08, 2012
- A stronger Yuan will help India bridge trade deficit with China - Aug 08, 2010
- Mukherjee arrives for G 20 summit in France - Feb 19, 2011
- Mukherjee wants each country to adjust its currency as per market forces - Feb 19, 2011
- China to sell nearly $5 bn in T-bonds - Apr 10, 2012
- `Brazil ready to tackle ripple effects of eurozone crisis' - May 23, 2012
- 'China's inflation to surpass Govt target despite measures' - Apr 19, 2011
- 'China trade surplus to decrease further' - Mar 08, 2011
- China's economy to grow 8.2 percent in 2012: WB (Lead) - Apr 12, 2012
- Yuan as new global currency? It can bode well for India (Comment) - Nov 15, 2009
- Sri Lanka's rupee depreciates 3.2 percent - Nov 23, 2011
Tags: beijing, china, currency exchange rate, depreciation, deputy representative, foreign exchange rate, international trade talks, market changes, minister of commerce, phenomenon, quan, xinhua, yuan