Source: CCTV.com

12-05-2008 10:57

Special Report:   5th China-U.S. SED

Chen Deming, Commerce Minister said "The recent, small fluctuation of the yuan against the dollar was completely normal. I'd call it the dollar strengthening, rather than the yuan depreciating. The current difficulty for exports is caused by market shrinkage. I am not counting on the yuan's depreciation to boost exports."

"China expressed a willingness to show its good faith and flexibility in the next phase of the Doha round negotiations and hopes the US side will do the same. China and the US are both members of the G7, so it's very important for the two to reach some principal agreements over the Doha round talks."

US Treasury Secretary Henry Paulson (front) shakes hands  with Zhou Xiaochuan (2nd R), governor of the People's Bank of China, before the opening session of the fifth China-US  Strategic Economic Dialogue in Beijing, Dec 4, 2008. [Agencies]

Zhou Xiaochuan, Governor of People's Bank of China said "The US should fully consider the possible impact of its measures on the global economy. China and the US should increase cooperation to regulate financial derivatives and unconventional banking arrangements."

"Government bodies should prepare for the worst and take precautions to prevent the financial crisis from further worsening. China will take the opportunity to further expand domestic demand and increase its competitive strength to promote stable and sustainable economic development."

 

Editor:Xiong Qu