According to analysts, the sharp fall of the yuan this week does not show a major change in the foreign exchange rate policy or its long-term currency revaluation in this country. But the chief economist of Bank of Communications Lian Ping said the yuan should not rise too fast because that would hurt exporters, who have already hit by the global financial crisis.

Started on Nov 4, the two-day China-US Strategic Economic Dialogue (SED) Read more…

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Although there is possible increased pressure on China to appreciate its currency faster ahead of Saturday’s G20 summit in Washington, analysts said, the renminbi strengthens and China’s domestic economic outlook worsens.”

They stressed that the economic priorities of China decide that it cannot accept Western demands to speed up renminbi appreciation, as such a move have already been beaten by the global financial crisis. Read more…

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