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China to keep yuan 'basically stable'
(Xinhua)
Updated: 2010-03-05 08:43
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China will keep the exchange rate of yuan "basically stable" at an "appropriate and balanced" level while further promoting the use of the Chinese currency in cross-border trade, Premier Wen Jiabao said Friday.
China will also continue to improve the mechanism for setting the yuan exchange rate, said Wen.
China launched pilot yuan settlements in cross-border trade in July last year in its eastern economic hub Shanghai and four cities in south Guangdong province, including Guangzhou, Shenzhen, Zhuhai and Dongguan.
