G7 calls for further move on yuan flexibility

The G7 nations increased pressure on China to move to a more flexible currency regime on Saturday 3 December and asked the IMF to take a bigger role in offering advice on foreign exchange.

Finance Ministers and central bank governors from the Group of Seven industrialised nations in a communique released after their weekend meeting urged Beijing to loosen controls further on its currency system after China's small revaluation in July.

"We expect that further flexible implementation of China's