Zhou says dollar weighting less than 50%

The weighting of the dollar in China's currency basket used as a reference to value the yuan is "much less than 50 percent," according to the People's Bank of China governor.

Zhou Xiaochuan, who made the remarks at the World Economic Forum in Davos, Switzerland, said the basket consisted of 20 different currencies, the China Daily and Hong Kong-based Wen Wei Po reported, without giving more details.

"The share of the US dollar in the currency basket that's used as a reference is much less than