China reaffirms it wants stable, balanced yuan
Premier Wen Jiabao on Sunday restated China’s long-standing position that the yuan’s exchange rate should be kept at a reasonable, balanced level.
State television showed Wen meeting a trio of top economic officials from the euro zone, who were making the case for a strengthening of the Chinese currency.
Wen also said China wanted to see stability in the world’s major reserve currencies — a thinly veiled way of saying China is unhappy with the weakening trend of the dollar.
(Reporting by Zhou Xin and Alan Wheatley)