Yuan rise not response to US pressure, says Fan

Fan Gang, the only non-government representative on the People's Bank of China's monetary policy committee, said in an online interview on Sina.com that recent yuan strength is not a response to US pressure.

Fan also told the website a gradual appreciation of the currency is in the best interests of China and the global economy.

He noted that "small-step appreciation (in the yuan) suits both China's economy and the global economy," adding the move is not a reflection of "the needs of the US Con