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Japan asks China for 'appropriate decision' on yuan, says media

Japan asks China for 'appropriate decision' on yuan, says media

Japan's finance minister yesterday asked China to make an "appropriate decision" on its foreign exchange policy but stopped short of telling it what to do.
Naoto Kan made the remarks at a news conference after meeting with Premier Wen Jiabao as part of weekend talks in Beijing with top officials.
"I told Wen that I believe China's stable foreign exchange rate policy has helped ease the recent financial turmoil, and asked him to continue to make an appropriate decision" on the currency problem, Kan said, according to Dow Jones Newswires.
But "I didn't say anything on what China should do or shouldn't do" about the yuan, he said.
International disquiet has grown over the yuan, which critics say is undervalued by as much as 40 percent against the dollar, giving Chinese exporters an unfair advantage.
Washington has led the charge in ramping up the pressure on Beijing to let the yuan appreciate. It has been effectively pegged at about 6.8 to the U.S. dollar since mid-2008.


Updated : 2021-01-20 15:56 GMT+08:00