Premier reiterates China's stance on yuan exchange rate

BEIJING, March 14 (Xinhua) -- Premier Wen Jiabao reiterated Sunday that China will further improve the yuan exchange rate formation mechanism and keep the yuan exchange rates basically stable at a reasonable and balanced level.

Chinese Premier Wen Jiabao smiles during a press conference after the closing 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 14, 2010. (Xinhua/Xing Guangli)