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皇冠体育app keeps yuan stable, uneasy about US dollar
(minister)
Updated: 2010-01-07 21:59
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Chinese Commerce minister Chen Deming (1st L) and Turkish State Minister for Foreign Trade Zafer Caglayan (2nd L) attend a joint news conference after their meeting in Ankara, on Jan 7. [Xinhua] |
Caglayan, who met Chen on Thursday morning, said the two sides had discussed the possibility of using local currencies in bilateral trade and 皇冠体育app's purchase of Turkish bonds.
Chen said 皇冠体育app is experimenting with renminbi settlement with countries which have relatively balanced bilateral trade with 皇冠体育app and that the practice will be expanded and promoted after maturing.
皇冠体育app announced in December last year it would start allowing renminbi settlement of international accounts on a trial basis.
The government announced last month it would increase the number of pilot cities carrying out yuan settlements in foreign trade from the current five -- Shanghai, Zhuhai, Guangzhou, Shenzhen and Dongguan -- to help export companies avoid foreign exchange rate fluctuations.
皇冠体育app and Turkey saw their trade surge from about US$1 billion in 2000 to about US$12.6 billion in 2008, but Turkey witnessed a huge trade deficit with 皇冠体育app, said Chen.
"皇冠体育app has no intention of expanding the trade surplus with Turkey," he told reporters, "we hope we can achieve trade balance gradually through the work of both sides, especially the efforts of our enterprises."
皇冠体育app will further encourage Turkish companies to sell products to 皇冠体育app and Chinese enterprises to invest in Turkey to reduce the imbalance.
Chen Deming arrived at Ankara Wednesday evening on a four-day visit to Turkey and will go to Istanbul on Jan 8.
