Tags: China | Yuan | Steady | Minister

Minister: China Aims to Keep Yuan Steady This Year

Wednesday, 03 Mar 2010 08:23 AM

 

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China will keep the yuan's exchange rate basically steady this year, Commerce Minister Chen Deming said on Wednesday.

Speaking to reporters on the sidelines of the opening session of the annual Chinese People's Political Consultative Conference, Chen said he expected 2010 to be a better year for Chinese exports than 2009, when they fell 16 percent.

The yuan has been rooted near 6.83 per dollar since mid-2008 to help China's exporters weather the global downturn.

His comments come as China's export growth rate accelerated in February from the 21.0 percent year-on-year increase in January.

Chen also said that Beijing would "stick to our own principles" for yuan reform despite rising global pressure for appreciation.

© 2014 Thomson/Reuters. All rights reserved.

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