China reaffirms that it wants to ensure a balanced yuan currency
CHINESE premier Wen Jiabao yesterday restated the country’s long-standing position that the yuan currency’s exchange rate should be kept at a reasonable, balanced level.
State television in China on Sunday showed Wen meeting a trio of top economic officials from the euro zone, who were making the case for a strengthening of the Chinese currency.
Wen also said China wanted to see stability in the world’s major reserve currencies – a thinly veiled way of saying China is unhappy with the weakening trend of the dollar.