China agrees 'steady' move on exchange rate

The US won a commitment from China at the G7 meeting in Washington on Friday that it would move 'firmly and steadily' to a flexible, market-based currency.

China's commitment came in a joint economic statement after high-level meetings involving US Federal Chairman Alan Greenspan, US Treasury Secretary John Snow, Jin Renqing, China's Finance Minister and Zhou Xiaochuan, China's Central Bank governor.

However, the Chinese did not offer a firm timetable for how long the transition will take.

The

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: