China to follow own path on yuan reform

Source: CCTV.com | 03-04-2007 13:31

China has reaffirmed that it will follow its own path on the yuan's exchange rate regime, despite increasing pressure from the US for China to reform more quickly.

According to the central bank, the yuan's level will be determined by market forces, and that the direction of yuan reform will remain unchanged.

Officials also say that China might let foreign companies issue yuan-denominated bonds as early as this year.

Editor:Liu Fang