皇冠体育app

皇冠体育app will make the yuan currency more flexible but adjustment of the currency alone cannot correct imbalances in the world's fourth largest economy, an assistant central bank governor said on Monday.

A Chinese man pulls some yuan notes from his wallet. [AFP]

People's Bank of 皇冠体育app Assistant Governor Yi Gang said 皇冠体育app needed a group of policies to adjust the economic imbalances, including stimulating domestic demand, protecting the environment and improving the social security system.

"We can't rely on adjustment of one factor, say the yuan appreciation, to address the economic imbalances," Yi told a forum.

"We will keep the yuan exchange rate basically stable at a reasonable and balanced level and increase flexibility in the exchange rate system."

The official's comments come ahead of a visit to Beijing this week by a high-powered U.S. delegation led by Treasury Secretary Henry Paulson, who is expected to encourage 皇冠体育app to keep liberalising its financial and product markets.

Monday marked the 5th anniversary of 皇冠体育app's entry to the World Trade Organisation, which led to the wider opening of its banking and other sectors to foreign competition.

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