US's Snow calls for more yuan flexibility

US Treasury Secretary John Snow said in testimony to the Senate Finance Committee at the Capitol on Thursday 6 October that he would ask China to increase currency flexibility.

"We will be meeting with Chinese authorities ... to make the case it is time to see greater (yuan) flexibility," Snow said. He and Federal Reserve chief Alan Greenspan are scheduled to visit Beijing from 11-16 October for the annual Sino-U.S. Joint Economic Conference.

"The commitment has been made, the initial step has