China: Yuan is not undervalued

Note: This section contains information in English only.
Source: China.org.cn
China has denied that its currency is undervalued and urged the Washington to ease its policies in regards to high-tech goods exports. The announcement came after Timothy Geithner pressed China to allow the Yuan appreciate further and to ease market control. At the same time, Chen Deming, China's Trade Minister, announced that China's foreign trade is mostly balanced, indicating that exchange rate plays minor role in trading.
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