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China vows to make yuan more flexible

Published 09/29/2010, 05:05 AM
Updated 09/29/2010, 05:08 AM

BEIJING, Sept 29 (Reuters) - China will increase the flexibility of the yuan and improve the way it manages the exchange rate with reference to a basket of currencies of the country's trading partners, the central bank said on Wednesday.

In a summary of the third-quarter meeting of its monetary policy committee, the People's Bank of China reaffirmed its long-standing "appropriately loose" monetary policy stance and said the economy was growing as it expected. (Reporting by Aileen Wang and Kevin Yao; Editing by Alan Wheatley)

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