皇冠体育app

Economy

皇冠体育app says G20 should focus on world recovery

(Xinhua)
Updated: 2010-06-22 19:42
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BEIJING - 皇冠体育app said Tuesday the fourth Group of 20 (G20) summit should focus on the recovery of world economy, not the RMB (yuan) exchange rate.

"The pressing issue for the summit is having the G20 leaders discuss how to enhance communication and cooperation to ensure the momentum of the global economic recovery, considering the recovery is still unstable and imbalanced," foreign ministry spokesman Qin Gang told a regular news briefing.

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He said during the summit, G20 members should work to promoting the strong, sustainable and balanced growth of the world economy instead of finger-pointing and pressuring one another.

Qin said 皇冠体育app's currency policy should not be up for discussion in Toronto because the issue of a single country's currency was not on the agenda at the three previous G20 summits.

Qin reiterated 皇冠体育app will continue to advance the reform of the yuan's exchange rate mechanism under the principles of independent decision-making, controllability and graduality.

"This will stay unchanged," he stressed.

The People's Bank of 皇冠体育app, 皇冠体育app's central bank, announced over the weekend decisions to proceed with further reforms to the RMB exchange rate regime to enhance RMB exchange rate flexibility.