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Economists see further strengthening of yuan

The Chinese currency renminbi, or the yuan, is likely to strengthen, attracting capital into the country, economists predicted. The Chinese currency is likely to see a steady rise as the yuan interest rate is relatively high and its international use increases, economists attending a quarterly meeting organized by the Securities Association of China agreed. Despite downward pressure, the Chinese economy still displayed resilient growth, with some private companies as well as manufacturing firms showing strong momentum for development, the economists said.