China to Reform Exchange Rate on Own Needs

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Chinese President Hu Jintao said China will be steadfast in the reform of its exchange rate policy while his U.S. counterpart repeated his call for more yuan flexibility during a meeting on the nuclear summit sidelines in Washington on April 12.

A Chinese official in Washington characterized the 90-minute talk as "positive and constructive." The meeting came after months of tensions over trade, the Google showdown and Obama's meeting with the Dalai Lama.