China peg pressure unhelpful - PM Wen

China's prime minister Wen Jiabao rejected foreign pressure to reform the pegged currency system, telling a visiting US delegation on Monday 16 May that any policy change was a "sovereign" issue for China which would be resolved at its own discression.

Mr Wen told the US business leaders that China was committed to introducing greater flexibility to its currency, the renminbi, now pegged to the dollar, but noted that foreign and speculative pressure was making any reform more difficult.

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