Paulson 'pleased' with yuan appreciation
3 April 2008
US Treasury Secretary Henry Paulson said he is "pleased" with China's decision to let its currency appreciate more rapidly, the Wall Street Journal reported. However, he said that he would not be fully satisfied until the yuan becomes a fully market-determined currency. Paulson's remarks came as he visited with President Hu Jintao and newly appointed Vice Premier Wang Qishan in Beijing. Paulson said he would continue to pressure China to open up its financial sector, but understood that "what is happening in the US markets clearly has to give the Chinese pause" in opening its market to Western financial companies. He also urged China to drop tariffs on anti-pollution equipment.
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