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China official says no complaints from BRICS on yuan

Published 04/13/2011, 11:00 PM
Updated 04/13/2011, 11:04 PM

* China trade official says 2011 to see trade surplus

* Says no "disputes or conflicts" from BRICS on yuan issue

SANYA, China, April 14 (Reuters) - China has received "understanding" from other BRICS countries -- Brazil, Russia, India and South Africa -- over the yuan exchange rate policy and practices, a Chinese trade association official said on Thursday.

At the meetings of government officials and business leaders from BRICS countries in Sanya, a tropical Chinese resort, China has received no formal complaints about the yuan, Yu Ping, a vice president with China Council for the Promotion of International Trade, the country's biggest exporter association.

"There were no disputes or conflicts (over the yuan issue)", Yu told a news conference.

He added that the devastating earthquake in Japan and the nuclear crisis will not hurt China's export momentum.

"Any impacts from Japan's earthquake (on China's trade) will be partial and temporary. The overall international trade development trend won't be affected," Yu said.

He added that China would see a full-year trade surplus in 2011 despite the small deficit in the first quarter.

China recorded a rare trade deficit in the first quarter of the year as a result of domestic economic strength and rising global commodity prices. [ID:nL3E7FB09E] (Reporting by Zhou Xin and Ben Blanchard; Editing by Ken Wills)

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