PBOC says China needs market system for currency

A People's Bank of China vice-governor said the correct value of the Chinese currency will not be determined until Beijing builds a system capable of fully reflecting supply and demand for the currency, Caijing magazine reported.

The financial weekly said Wu Xiaoling, vice-governor of the People's Bank of China, acknowledged in an interview that there has been disappointment with last year's revaluation.

However, there will be no agreement on the yuan's correct value without a regime capable of

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