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Group of Seven to talk about the yuan
By Hu Cong (China Daily)
Updated: 2005-01-28 00:59

China's finance minister and central bank governor will discuss the yuan the Chinese currency with their counterparts at the upcoming Group of Seven (G7) meeting, Foreign Ministry spokesman Kong Quan said yesterday.

Minister of Finance Jin Renqing and Governor Zhou Xiaochuan of the People's Bank of China will attend the G7 finance ministers' meeting in London next week.

"They will explain to delegates the current situation of China's economy and the government's ideas and views on this issue (of the yuan)," Kong said.

He was responding to a question about US President George W. Bush's comment on Wednesday that the Chinese currency will be high on the G7 meeting's itinerary.

Kong said China and the United States have been communicating on the exchange rate issue for a long time.

Vice-Premier Huang Ju is leaving for Switzerland today to attend the World Economic Forum in Davos to talk about China's economic and social situation, Kong said.

Also responding to US President Bush's talk on Wednesday that he will "constantly remind" Chinese leaders to make progress on human rights, Kong said such a reminder is uncalled-for but equal dialogue is welcome.

"Anyone observant is able to see China's process of improving democracy and the rule of law," said Kong.

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