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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World China needs to consider currency 'reforms': EU AFP - Sunday, April 18 Send IM Story Print China needs to consider currency 'reforms': EU MADRID (AFP) - – China needs to consider "reforms" to bring an end to imbalances between its currency and global competitors, the European commissioner for economic and monetary affairs said on Saturday. "It would be important that China would consider reforms in this regard so we could see a certain rebalancing of the value of the renminbi," said Olli Rehn following a meeting of European Union finance ministers in Spain. "It would be very important for the global economy and also for the Chinese economy," the Finn added. Beijing has long linked its currency, the renminbi or yuan, to the dollar, rather than letting it float as the country's economy grows. The United States and Europe frequently urge China to re-value the yuan, but so far to no avail. China last month dismissed calls from US lawmakers for Beijing to be labelled a currency manipulator, saying the value of the yuan was not to blame for global trade imbalances. A Chinese finance ministry delegation was due to attend a meeting of the Asia-Europe forum alongside Rehn later on Saturday and Sunday, but cancelled owing to the volcanic ash cloud that has shut down much of Europe's airspace. Recommend Send IM Story Print Related Articles China needs to consider currency 'reforms': EU AFP - Sunday, April 18 Saudi SABIC posts forecast-beating Q1 net profit Reuters - Sunday, April 18 WRAPUP 1-Loans slowdown shackles Saudi banks Q1 profit growth Reuters - Sunday, April 18 US-BUSINESS Summary Reuters - Sunday, April 18 Greece to decide on EU/IMF aid within weeks Reuters - Sunday, April 18 News Search Top Stories Central bankers warn against rushing to impose levy Europe extends flight bans as ash cloud spreads Red Bull's Vettel seizes pole in F1 China Grand Prix Goldman fraud charges trigger possible wider crackdown Toyota recalling 870,000 minivans in US, Canada More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Europe extends flight bans as ash cloud spreads Goldman fraud charges trigger possible wider crackdown Toyota recalling 870,000 minivans in US, Canada Red Bull's Vettel seizes pole in F1 China Grand Prix Brazil Amazon dam project gets new go-ahead More Most Viewed » Two-million-year-old hominid sheds light on evolution Taiwan's male 'Susan Boyle' a web sensation Junkies and junk-food addicts share craving mechanism Toad is a telltale for impending quakes: scientists More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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