Source: CCTV.com

03-07-2007 10:03

U.S. Treasury Secretary Henry Paulson will start his two-day visit to China Wednesday. He will meet with Chinese vice Premier Wu Yi in Beijing and give a speech at the Shanghai Future Exchanges in Shanghai. Paulson is currently in Tokyo on the first leg of his three-nation Asian tour. Chen Lijun takes a closer look.

US Treasury Secretary Henry Paulson is urging Japan to continue economic reforms after trying to quell concern about recent international stock market turmoil and the dollar's sudden drop against the yen. He has met with Japan's Economic Minister Hiroko Ota. Officials say Paulson stressed to his Japanese counterpart the need to protect investor interests in financial reforms being carried out by Japan.

Paulson's visit comes amid volatility in global stock markets, particularly those in Asia, which have plunged over the last week amid worries about overheated stock prices and a global slowdown.

But many Asian markets bounced back as Paulson met on Tuesday with Taizo Nishimuro, Chairman and CEO of Tokyo Stock Exchange.

Paulson applauded Japan's effort to reform the labor market as important to sustaining growth and said he welcomed Prime Minister Shinzo Abe's efforts in this area.

Meanwhile, stimulated by Paulson's incoming visit, Chinese currency hit new high on Monday at 7.7403 yuan per dollar. That means appreciation of yuan has reached 4.7 percent since the yuan reform in July 2005.

Paulson is scheduled to travel to Seoul Tuesday night, before arriving in Beijing Wednesday.

 

Editor:Li Yang