PBOC advisor says yuan rise may increase surplus

Further yuan appreciation could cause China's trade surplus to increase rather than shrink, a leading advisor to the Chinese central bank told a conference on Sunday 21 January.

Fan Gang, the only non-government representative on the monetary policy committee under the People's Bank of China, told a conference in Beijing Sunday that China should resist "unilaterally appreciating the yuan under foreign pressure."

"Most people would only emphasize the foreign exchange issue, saying that yuan appr