May 25, 2010 07:06 PM

Chinese President Affirms Yuan Reform

Chinese President Hu Jintao reiterated China's willingness to reform the yuan exchange rate despite the lack of a timetable.

"China will continue to steadily advance the reform of the formation of the yuan exchange rate mechanism under the principle of independent decision-making, controllability and gradual progress," Hu said in a speech delivered to the opening ceremony of the China-US Strategic & Economic Dialogue on May 24.

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