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Chinese minister to attend G7 to discuss the RMB

www.chinanews.cn 2005-01-28 12:34:19

Chinanews, Jan. 27th - Mr. Zhu Guangyao, director of the Department of
International Affairs, China's Ministry of Finance, said that the
Minister of Finance Mr. Jin Renqing, would attend the Group of Seven (G7)
finance ministers' meeting in London at the beginning of next month, and
conduct in-depth discussions with foreign countries about issues related
to the RMB exchange rate.
Traders' expectation of a RMB appreciation is increasing. Since 1995,
China has fixed the RMB exchange rate at 8.28:1 against the U.S. dollar.
Since September 2003, G7 has been calling upon China to strengthen the
flexibility of the RMB. China stated that the Chinese government would
move toward reforming the RMB exchange rate, but has not announced any
schedule or timetable.

          ��Wrong timing for adjusting the RMB (2005-01-27)
          ��RMB Appreciation to create its own bubble? (2005-01-20)
          ��RMB valuation trend:no timetable set for next year
(2004-12-24)
          ��SIC report: RMB exchange rate will remain stable next year
(2004-12-21)

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