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Yuan dips on signal from c.bank
(Shanghai Daily)
Updated: 2007-02-13 11:05
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Zhou said in Germany on Friday that the yuan's current "pace of appreciation is suitable" and that exchange rate flexibility is being increased according to China's own plans and its economic ability.
The G-7 nations repeated their call for the Chinese government to allow greater flexibility in the yuan because of concerns over a rising trade surplus.
The country's trade surplus, driven by overseas sales, reached US$15.9 billion in January following a US$177.5 billion gap last year, theMinistry of Commercesaid yesterday.
The huge imbalance has flooded the country's banking system with cash and raised optimism for the yuan to appreciate faster.
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