“The yuan exchange rate will undergo gradual adjustment for one year to a year and a half before it can stabilize. In other words, the yuan may be able to fluctuate in both directions until then,” the China Securities Journal quoted Li as saying yesterday.<\/p>\n
The yuan has gained nearly 30 percent since China broke its peg to the US dollar in 2005. Li said the yuan is now close to a balanced level and China’s trade surplus is likely to fall below 1 percent of its gross domestic product this year. The yuan gained 0.02 percent this week to close at 6.2978 yesterday, according to the China Foreign Exchange Trade System. Li said his estimation was based on relatively steady growth in China and around the world.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
Normally in the cross-hairs, China’s exchange-rate policy received a free pass as Europe’s debt crisis took center stage when the Group of 20 met over the weekend in Mexico City. From The Wall Street Journal: While capital flows and currency policy are still on the table at the G-20, they\u2019ve \u201clost some prominence given the […]<\/p>\n","protected":false},"author":983,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2,14745,14746],"tags":[14722,415,8231,15137,350],"class_list":["post-132192","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","category-level-3-article","category-level-4-article","tag-debt","tag-europe","tag-g20","tag-li-daokui","tag-yuan-rate","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n
G-20 Sets Yuan Policy Aside<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n