FM Spokesman: RMB Exchange Rates to Maintain Stable

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Last updated at: (Beijing Time) Wednesday, September 03, 2003

FM Spokesman: RMB Exchange Rates to Maintain Stable

China will maintain the stability of exchange rates of its currency, the Renminbi (RMB), said Foreign Ministry spokesman Kong Quan Tuesday.

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China will maintain the stability of exchange rates of its currency, the Renminbi (RMB), said Foreign Ministry spokesman Kong Quan Tuesday.

In response to a question at a regular press conference, Kong said that since 1994, China has adopted a regulated, floating exchange rate system based on market supply and demand.

This system will be perfected along with the development of China, he said.

Kong said the stability of exchange rates of the RMB will surely benefit the economy of China, Asia and the world.

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