No rush to reform RMB rate: Wen
27 June 2005
Chinese Premier Wen Jiabao told 40 Asian and European finance ministers Sunday that China favored a flexible currency but would not be rushed into action since considerable preparation was still needed to avoid economic shocks, state media reported. Wen said China's goal in reforming the yuan was to move to a market-based and floating exchange rate system, but he was cautious about the timing.
