BEIJING, July 10 China and the United States
have agreed to avoid sustained, disorderly and competitive
currency depreciation, the Chinese government said on Thursday
after annual high-level talks between the two countries.
China also agreed to increase currency flexibility to
reflect economic fundamentals, the government said in a
It will continue to push forward foreign exchange rate
reform, interest rate reform, and reduce currency intervention
when conditions permit.
Beijing will also expand domestic demand as the main engine
of the economy, the government added, and hasten pricing reforms
in its oil, electricity and natural gas markets.
The government will also widen reforms of state-owned firms
and set up communication with the U.S. on corporate governance.
(Reporting By Kevin Yao; Writing By Megha Rajagopalan; Editing
by Clarence Fernandez)