Top China economist calls for yuan appreciation

The Chinese government should actively move on its yuan exchange rate adjustment and appreciate the value of the currency by 5-10%, the Beijing Morning Post reported, citing Zhang Shuguang of the Chinese Academy of Social Science.

The newspaper quoted top economist Zhang as saying in a CASS journal that it is time for the government to adjust the exchange rate system and currency policy as the pegged yuan exchange rate has hurt the independence of China's monetary policy.

Zhang suggested a one