PBoC will 'actively promote' exchange rate reform

The People's Bank of China said in a report released on Thursday 24 February that it will "actively promote" reform of the exchange rate regime this year.

In the outlook for 2005 in its annual report on the financial system it also said that the reforms will be conducted in a stable manner.

"The central bank will actively and in a stable manner promote the reform of the exchange rate system while maintaining a steady yuan around a balanced and rational level," it said in the report. The central