ADB chief urges flexible exchange rates for China

Speaking to reporters on Tuesday 7 February, the head of the Asian Development Bank urged China to adopt a more flexible currency exchange system, saying that removing the yuan's peg to the U.S. dollar would be good for both Beijing and its neighbours.

"I'm hopeful that the ... authorities will come up with a more appropriate, more flexible exchange regime for China," ADB President Haruhiko Kuroda told reporters. "That is good for China ... and also very good for the economies in the region."