China's yuan progress 'far too little'

The US government on Wednesday 10 May did not accuse China of manipulating the value of its currency, but said Beijing had made "far too little progress" in adopting a flexible exchange rate.

"The delay in introducing additional exchange rate flexibility is unjustified given the strength of the Chinese economy and the progress in China's transition," said a report from the US Treasury. "China needs to move quickly to introduce exchange rate flexibility at a far faster pace than it has done to

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