PBOC chief: China reforms to remain gradual

Speaking at the conference in Seoul, South Korea, on Friday China's central bank governor, Zhou Xiaochuan, said reforms of the Chinese yuan would remain gradual.

"We should go further to reform, but respect economic stability," Zhou said, citing the economy's strong reliance on exports for growth. He added that "timing is important for the government to resolve problems."

Zhou did not refer directly to the controversy over its controls on the yuan, which Beijing has kept at a rate of about 8.28

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