CANNES, France - The renminbi is coming close to having a reasonable exchange rate, Chinese Commerce Minister Chen Deming said at the G20 summit.

Chen told reporters on Thursday that the yuan has risen by about 30 percent against the US dollar since 2005, and China's trade surpluses are declining when compared with the value of its gross domestic product.

In September, selling pressure appeared for the yuan, showing that the market perception of the currency is starting to change, Chen added.