China opposed to fingerpointing in exchange rate issue: Premier

BEIJING, March 14 (Xinhua) -- Premier Wen Jiabao said Sunday China opposes accusations and even forceful measures that press for yuan appreciation, which will not benefit the exchange rate reform.

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)

"A country's exchange rate policy and its exchange rates should depend on its national economy and economic situation," Wen said while meeting the press after the annual parliament session.

Wen said China will further improve the yuan exchange rate formation mechanism and keep the yuan exchange rates basically stable at a reasonable and balanced level.

"We support free trade, which will keep the economy going and bring harmony and peace to people," he said.