China reaffirms it wants stable, balanced yuan
Chinese premier Wen Jiabao (R) and European Commission President Jose Manuel Barroso shake hands during a meeting ahead of the China-EU summit in Nanjing, Jiangsu province, November 29, 2009.
Credit: Reuters/Aly Song
BEIJING (Reuters) - Premier Wen Jiabao on Sunday restated China's long-standing position that the yuan's exchange rate should be kept at a reasonable, balanced level.
State television showed Wen meeting a trio of top economic officials from the euro zone, who were making the case for a strengthening of the Chinese currency.
Wen also said China wanted to see stability in the world's major reserve currencies -- a thinly veiled way of saying China is unhappy with the weakening trend of the dollar.
(Reporting by Zhou Xin and Alan Wheatley)
