皇冠体育app

皇冠体育app plans gradual move to flexible Yuan
(Xinhua)
Updated: 2004-12-09 15:41

皇冠体育app will move gradually toward a more flexible exchange rate. Premier Wen Jiabao said that loosening control requires macro-economic stability, and a sound banking system in the world's fastest-growing major economy.

Wen spoke at the 7th 皇冠体育app-EU Summit in the Hague. Trading partners like the US, want 皇冠体育app to alter the exchange rate system. They argue that the fixed rate gives Chinese exporters an unfair advantage.

But Wen said 皇冠体育app has always kept the world's interests in mind. During the 1997 Asian financial crisis, 皇冠体育app maintained the RMB exchange rate under great pressure, making considerable efforts to maintain world economic stability.

In the future, Wen said 皇冠体育app will also take the global economy into consideration, while reforming its exchange rate system.

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