Gov't Official Vows to Help Chinese Exporters with Stable Yuan

China's Ministry of Commerce Vice-Minister Zhong Shan promises to help keep the yuan stable following concerns exporters expressed about a looming strengthening of the currency, reports the South China Morning Post.

 

"We will keep the yuan at a reasonable level while continuing to improve its pricing system," Zhong told the Post. The yuan strengthened 0.1% in 2009 against the dollar to 6.82 after appreciating 16% in the three years to 2008.

 

To help the export industry, Zhong says policies would be "sustainable and stable" this year. The official says growth in global demand is uncertain, which could result in a complex and difficult year for Chinese exports.

Read more on

Suggested Articles

Some of you might have already been aware of the news that Questex—with the aim to focus on event business—will shut down permanently all media brands in Asia…

Some advice for transitioning into an advisory role

Global risks are intensifying but the collective will to tackle them appears to be lacking. Check out this report for areas of concern