Thursday, November 27, 2008

Yuan Watch : Market determining RMB

(This is also what the Chinese told the French several weeks ago.-AM)
By Si Tingting (China Daily)
Updated: 2008-11-27 14:07

Zhang Ping, minister of the National Development and Reform Commission (NDRC), China's top economic planning body, said at a press conference this morning that China will stick to the direction of letting the market determine the value of RMB.
"China will stick to this direction in the long term," said Zhang. The RMB has appreciated by 20 percent since China de-pegged it from the US dollar in July 2005

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