China in good position to do more on yuan - U.S.'s Brainard
WASHINGTON Aug 27 (Reuters) - China has made progress on rebalancing its economy away from export-led growth and reducing its current account surplus, but needs to continue to take steps towards a more market-oriented exchange rate, a top U.S. official on Monday.
"We obviously are very supportive of the efforts in China to ensure a soft landing, recognizing that they do face head winds, particularly from Europe, given the large degree of export exposure there," U.S. Treasury Under Secretary for International Affairs Lael Brainard told reporters in a call to preview a regional finance officials meeting later this week in Moscow.
But overall, "China is in a very good position" to move forward on both its structural re-orientation program and a number of financial market reforms, including moving to a more flexible exchange rate policy, she said.
"We think there's a lot of capacity to do that and we're going to continue to press in that direction," she said.
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