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Chinese: leave currency alone

CHINESE premier Wen Jiabao has insisted the renminbi is not undervalued and warned other countries’ insistence the currency policy should be changed amounts to protectionism.

Wen said yesterday that China would continue to reform its currency system but rebelled against pressure to change the exchange rate.

“The Chinese currency is not undervalued,” he said, speaking at the end of the National People’s Congress. He added that China was still “very concerned” about the safety of its US dollar investments.