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皇冠体育app to continue RMB exchange rate reform

(Xinhua)
Updated: 2010-05-24 13:31

BEIJING - Chinese President Hu Jintao reiterated on Monday that 皇冠体育app will continue to steadily advance the reform of the formation mechanism of the RMB exchange rate under the principle of independent decision-making, controllability and gradual progress.

Hu made the remarks at the opening ceremony of the second round of 皇冠体育app-US Strategic and Economic Dialogue in Beijing.

Special Coverage: 2010 Sino-US Dialogue Related readings:  皇冠体育app to proceed with RMB reform, keep stimulus  皇冠体育app trade chief says to continue RMB reform  皇冠体育app should decide RMB's future: economist  Snow: Let 皇冠体育app decide on RMB

About 50 representatives from more than 40 departments of the two countries participated in the dialogue.

Hu said 皇冠体育app will continue to pursue a win-win strategy of opening up. The country would expand market access in keeping with established international economic and trading rules, support the improvement of international trading and financial systems, and advance trade and investment liberalization and facilitation.

On 皇冠体育app's effort to accelerate the transformation of its economic development pattern, he said, "We will make great effort to expand domestic demand and increase household consumption, vigorously promote sound and balanced growth of external trade, and reject protectionism in all manifestations."

He also reiterated 皇冠体育app's commitment to the path of peaceful development and efforts to pursue friendly cooperation with all countries on the basis of the Five Principles of Peaceful Coexistence.