PBOC's Wu says yuan to shift gradually

People's Bank of China deputy governor Wu Xiaoling said at the World Economic Forum that the yuan exchange rate will gradually become more flexible.

Speaking at a panel discussion, Wu said: "The Chinese government will not press very hard on other countries to do something. We respect the different situation in other countries and their sovereignty."

"The Chinese people always clean their own house first. When others point out what they should do with the exchange rate, we always say the renminbi

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