China Lets Currency Appreciate a Bit Faster
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The increase fed speculation that China was yielding to international pressure and the state of its economy.
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China says it will move toward a flexible exchange rate for its currency, but there is no word on how long such a transition will take.
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The International Monetary Fund added its voice to the growing calls for China to float its currency immediately.
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China on Sunday took aim at price manipulators and hoarders of goods, as Beijing ramped up its campaign to rein in inflation which is running at its highest level in more than a decade.
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The sizzling pace of Chinese capital  spending barely slowed in November despite curbs on lending,  showing why the authorities intend to tighten monetary policy  further in 2008.
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China is creating an investment company to make better use of its $1 trillion foreign currency reserves.
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Efforts to ease the Chinese economy off the boil are working but rapid exchange rate change is off the agenda, the Chinese president says.
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China will allow domestic-currency bank cards to be used outside the country for the first time, the central bank said Wednesday, the latest easing of capital controls as the government prepares for a more flexible currency.
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G7 finance ministers say China should allow its currency, the yuan, to rise more quickly to ease inflation pressures.
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The sizzling pace of Chinese capital spending barely slowed in November despite curbs on lending, showing why the authorities intend to tighten monetary policy further in 2008.
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A communique issued in Chile by finance ministers of the Asia-Pacific Economic Forum conveys an impression that currency flexibility in China is a rather long work-in-progress, if it&#39;s even that.
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For the sake of the global economy, China needs to accelerate the pace of currency reform and overhaul its economy to be less dependent on exports, Treasury Secretary Henry Paulson said Wednesday.
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China's central bank said it would take a &quot;gradual and safe&quot; approach to loosening the yuan-dollar peg, following International Monetary Fund (IMF) calls to let the currency float in a wider margin.
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WASHINGTON : The head of the International Monetary Fund urged China to begin moving toward greater currency flexibility, taking advantage of its booming economic growth pace.
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The Bush administration lobbied Chinese economic officials on Thursday to overhaul a currency regime that American manufacturers contend gives China a huge competitive advantage.
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China&#39;s central bank sought on Friday to soothe concerns over its first interest rate hike in nearly a decade, saying it will not have a big impact on the economy or the pegged yuan currency.
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China and the United States agreed on Friday that Beijing will pursue currency flexibility, while Washington will aim to increase national savings as part of joint efforts to reduce global economic imbalances.