China to keep yuan "basically stable," gov't report

BEIJING, March 5 (Xinhua) -- China will keep the exchange rate of its currency yuan "basically stable" at an "appropriate and balanced" level, according to a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Friday.

Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010. (Xinhua/Liu Weibing)

The country will also continue to improve the mechanism for setting the yuan exchange rate, it says.