China advisor sees second yuan revaluation in 2006

Zhang Shuguang, a former senior fellow at China's Academy of Social Sciences, the government's leading research body, said he expects a second revaluation of the yuan of between 2-3% in 2006 as hot money pressures are likely to force further adjustment.

"The 2 pct revaluation has not relieved, and in fact has only intensified, yuan revaluation speculation," he told the forum, which was closed to foreign media.

"What else is the central bank going to say in the face of mounting pressure? Remembe

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