Yuan fall 'dictated by market'
By Zhao Yinan in Beijing and Chen Weihua in Washington | China Daily | Updated: 2014-05-14 07:01
China stands firm in face of RMB depreciation against the US dollar
Recent falls in the yuan exchange rate against the US dollar are based entirely on market forces, a senior official said on Tuesday after Premier Li Keqiang met with visiting US Treasury Secretary Jacob Lew.
Zhu Guangyao, vice-minister of finance, said China would not bow to United States pressure over the yuan's recent depreciation.
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