China to Keep Yuan Stable: Central Bank Governor

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Last updated at: (Beijing Time) Monday, March 11, 2002

China to Keep Yuan Stable: Central Bank Governor

China's central bank Monday ruled out the possibility of devaluing the country's currency, Renminbi yuan.

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China's central bank Monday ruled out the possibility of devaluing the country's currency, Renminbi yuan.

"Keeping yuan stable is beneficial to both China and Asia," said Dai Xianglong, governor of the People's Bank of China at a press conference sponsored by the on-going Fifth Session of the Ninth National People's Congress.

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