China may raise the yuan during the daysWashington delayed the report was likely to accuse China of manipulating the yuan (French - Archive)
U.S. newspaper said Thursday that China may announce within days raise the value of its currency in response to repeated requests from the United States sent its treasury minister in Beijing today for this purpose is likely.
The Minister met the U.S. Timothy Geithner today in Beijing, Chinese Vice Premier in charge of economic affairs, finance and Wang Qishan.
Both sides declined to confirm whether the talks had addressed the issue of the yuan exchange rate, which the United States says it is a very low level, which caused the real and the states of the European Union especially damaging commercially and economically significant.
The U.S. Treasury Department said in a statement that the two sides exchanged views on economic relations between the United States, China and the global economic situation, and issues related to the strategic dialogue between the two countries in May / May next, without referring to the subject of the yuan.
Geithner's visit to Beijing, such as flash to hold a meeting next week between the U.S. President Barack Obama and Hu Jintao on the sidelines of a summit in Washington on nuclear security.
The Treasury announced the U.S. a few days ago to postpone the report was scheduled to due in the middle of this month in conjunction with the visit of Hu Jintao, and will most likely charge for China of manipulating its currency.
Emphasizes flexibility afterIn conjunction with the talks between Geithner, Vice-premier of China, said the American daily New York Times that China will announce in the next few days an amendment to allow monetary policy to expand circulation of its national currency, the yuan (also called the renminbi).
Central China could raise the value of the yuan during the day by The New York Times
(Reuters - Archive)She added that this amendment will coincide with the lifting of a simple and immediate value of the yuan, which the United States and other trading partners for China to drop its value by about 40% really happening is a major imbalance in trade to China.
The Times said it obtained the information in this regard, sources familiar with the consensus emerging among Chinese officials on currency, and confirmed that those sources do not want to reveal identities of the sensitivity of the issue for China.
However, it has not ruled out at the same time to fall in Beijing last moment to announce the possible adjustment of the yuan's exchange system.
She said in this context, based on the same sources, to form an opinion on China's central bank supports the strengthening yuan, while adding more flexibility to it.
She also said that the Chinese Commerce Ministry on exports of national publicly disagreed strongly last month, revaluing the yuan, but they lost the battle, apparently in exchange for "interest groups" China believes that the country relies heavily on the dollar, and give more flexibility on the national currency will allow the management of the third-largest global economy more easily.
According to the New York Times, the amendment is also expected that Rgehth Chinese magazine a few days ago, it may be the same as an amendment in 2005 when it allowed the Chinese leadership to lift the value of national currency by 2% against the dollar.
It is noteworthy that the Chinese central bank set the daily average for the price of the yuan, which is a key reference price, at 6.8259 yuan to the dollar, its highest level since May / May of last year.
U.S. newspaper said Thursday that China may announce within days raise the value of its currency in response to repeated requests from the United States sent its treasury minister in Beijing today for this purpose is likely.
The Minister met the U.S. Timothy Geithner today in Beijing, Chinese Vice Premier in charge of economic affairs, finance and Wang Qishan.
Both sides declined to confirm whether the talks had addressed the issue of the yuan exchange rate, which the United States says it is a very low level, which caused the real and the states of the European Union especially damaging commercially and economically significant.
The U.S. Treasury Department said in a statement that the two sides exchanged views on economic relations between the United States, China and the global economic situation, and issues related to the strategic dialogue between the two countries in May / May next, without referring to the subject of the yuan.
Geithner's visit to Beijing, such as flash to hold a meeting next week between the U.S. President Barack Obama and Hu Jintao on the sidelines of a summit in Washington on nuclear security.
The Treasury announced the U.S. a few days ago to postpone the report was scheduled to due in the middle of this month in conjunction with the visit of Hu Jintao, and will most likely charge for China of manipulating its currency.
Emphasizes flexibility afterIn conjunction with the talks between Geithner, Vice-premier of China, said the American daily New York Times that China will announce in the next few days an amendment to allow monetary policy to expand circulation of its national currency, the yuan (also called the renminbi).
Central China could raise the value of the yuan during the day by The New York Times
(Reuters - Archive)She added that this amendment will coincide with the lifting of a simple and immediate value of the yuan, which the United States and other trading partners for China to drop its value by about 40% really happening is a major imbalance in trade to China.
The Times said it obtained the information in this regard, sources familiar with the consensus emerging among Chinese officials on currency, and confirmed that those sources do not want to reveal identities of the sensitivity of the issue for China.
However, it has not ruled out at the same time to fall in Beijing last moment to announce the possible adjustment of the yuan's exchange system.
She said in this context, based on the same sources, to form an opinion on China's central bank supports the strengthening yuan, while adding more flexibility to it.
She also said that the Chinese Commerce Ministry on exports of national publicly disagreed strongly last month, revaluing the yuan, but they lost the battle, apparently in exchange for "interest groups" China believes that the country relies heavily on the dollar, and give more flexibility on the national currency will allow the management of the third-largest global economy more easily.
According to the New York Times, the amendment is also expected that Rgehth Chinese magazine a few days ago, it may be the same as an amendment in 2005 when it allowed the Chinese leadership to lift the value of national currency by 2% against the dollar.
It is noteworthy that the Chinese central bank set the daily average for the price of the yuan, which is a key reference price, at 6.8259 yuan to the dollar, its highest level since May / May of last year.
