China Not to Devaluate Renminbi: Premier

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Last updated at: (Beijing Time) Friday, April 12, 2002

China Not to Devaluate Renminbi: Premier

Speaking at the first annual conference of the Boao Forum for Asia in Boao, Chinese Premier Zhu Rongji said Friday China is carrying out a policy of maintaining the value of its currency Renminbi, and the policy will not be changed.

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Chinese Premier Zhu Rongji said Friday China is carrying out a policy of maintaining the value of its currency Renminbi, and the policy will not be changed.

Zhu said at the first annual conference of the forum that while Asian countries, affected by the financial crisis years ago, devaluated their currencies one after another, the Chinese government has pursued a policy of not devaluating Renminbi in order to maintain the benefits of the region and to meet China's own needs.

"This policy will not be changed," Zhu said.

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