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Finance: Currency policy good
Updated: 2006-04-10 14:54
Asian Development Bank President Haruhiko Kuroda said in Vienna yesterday
that the pace of the adjustment of Chinese yuan should be decided by the Chinese
authorities themselves. "A flexible yuan would be in the interests of the
Chinese economy," Kuroda told reporters at the end of a two-day meeting of the
European and Asian finance ministers. (Shenzhen Daily)
China is not deliberately pursuing expansion of its foreign exchange reserves
or any particular level of reserves, the People's Bank of China said last week.
Wu Xiaoling, vice-governor of the central bank, said that an excessive trade
surplus, the source of much of China's reserves, was not desirable and needed to
be addressed through policies. (China Daily)
According to PricewaterhouseCoopers, overall acquisition deal activity in
2006 is unlikely to match 2005 in terms of value. Sectors where significant
activity is expected include IT and electronics, general manufacturing, retail
and consumer products, and transportation and distribution. (Shenzhen
Daily)
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