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EU trade chief-designate presses China over forex

Published 01/12/2010, 04:04 AM

BRUSSELS, Jan 12 (Reuters) - China must tackle currency misalignment, the European Union's trade commissioner-designate said on Tuesday, adding pressure on Beijing to let the yuan appreciate.

"I hope China will continue to improve its openness to trade and investment but it must show its responsibility by being able to address thorny questions such as currency misalignment," Karel de Gucht told a European Parliament hearing.

Growth in China's exports and imports last month exceeded expectations, data has shown, providing new evidence of the vigour of the economy and strengthening the case for Beijing to let the yuan start climbing again.

China has shrugged off pressure from its major trading partners for a change in the level of the yuan , repeating its line that stability was in everybody's best interest. (Reporting by Dale Hudson)

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