No giving in on renminbi appreciation

Beijing should not bow to pressure from other countries, advisors say

BEIJING - Top legislators and advisors defended the country's exchange rate policy on Thursday, saying the government should not buckle under US pressure for a sharp increase in the renminbi.

If Washington uses trade protectionist measures as a tool to pressurize Beijing, it would jeopardize its own interests, they said during the ongoing sessions of the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC).