China to move on yuan rate at 'appropriate' time

Senior Chinese economists believe China's current exchange rate needs to be adjusted "at an appropriate time and in an appropriate way," the Shanghai Securities News has reported, according to State news agency Xinhua.

"There is little possibility that the government will appreciate the Chinese currency renminbi, or yuan, in the first half of this year," the paper said, quoting Ha Jiming, a senior economist with the China International Financial Corporation.

"The revaluation of the yuan needs