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China to further improve formation mechanism of yuan exchange rate: central bank

Updated: 2010-03-06 13:30
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BEIJING -- China will further improve the formation mechanism of exchange rate of the renminbi, or the country's currency yuan, to keep the exchange rate basically stable at an adaptive and balanced level, the People's Bank of China said Saturday.

The central bank made the statement in a report delivered to media during a press conference on the sideline of the annual parliament session.