Saturday, May 7, 2011

U.S., China Agree On 'Direction of Reform' for Yuan

Saturday, May 7, 2011

BEIJING—A senior Chinese finance ministry official sounded a conciliatory note on the debate between China and the U.S. over the value of the yuan.

But Vice Finance Minister Zhu Guangyao added that differences persist, as the U.S. is more focused on the extent of appreciation while China is focused on a long-term reform process.

Mr. Zhu's comments came at a press briefing on Friday ahead of the latest round of high-level meetings, dubbed the Strategic and Economic Dialogue, in Washington next week. Top U.S. officials, including Treasury Secretary Timothy Geithner, are expected to press China to allow the yuan to ...

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