Wednesday, November 28, 2007

Blame for strong euro vs yuan lies with U.S.-China

BEIJING, Nov 28 (Reuters) - The euro's rise against the yuan is largely a reflection of a sharp drop in the dollar, and the European Union should look to Washington to resolve the problem, Chinese Premier Wen Jiabao said on Wednesday.

He told a news conference after a China-EU summit that Beijing would continue to reform its currency regime along market lines with the aim of eventually making the yuan convertible for purely financial transactions.

Read more:Blame for strong euro vs yuan lies with U.S.-China


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