China says foreign calls for yuan reform are 'unhelpful'

Last Updated: Sun, 14 Mar 2010 19:40:00 +1100

The Chinese premier, Wen Jiabao, says external calls for a yuan appreciation are unhelpful and he has vowed that Beijing will stick to its own course for currency reform.

Speaking at the end of China's annual parliamentary meeting on Sunday, Wen Jiabao said China would decide for itself whether and when to let the yuan rise again.

China escaped the worst of the global slump by ramping up credit, slashing interest rates and launching a US$585 billion infrastructure stimulus programme in late 2008.

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