China official says not ready to revalue currency

China is not ready to revalue its currency and needs time to find a new foreign exchange regime, state media reported Monday, citing comments by government officials.

China should not "blindly revalue the yuan upward'' without making adequate preparations, Zheng Jingping, a spokesman for the National Statistics Bureau, wrote in the state-run newspaper China Business Post.

Zheng acknowledged that Beijing's tightly managed foreign exchange regime, which keep the yuan trading in a narrow band around

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account