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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (5521)	1/20/2004 10:19:21 AM
From: mishedlo	Read Replies (1) of 110194

China Says `No Chance' Yuan Will Revalue This Year (Update3) Jan. 20 (Bloomberg) -- China's currency won't be revalued this year, and investors who bet the government will let the yuan's value rise against the dollar risk losses, officials said. ``There's no chance of the yuan being revalued this year,'' Yao Jingyuan, chief economist at the National Bureau of Statistics, told reporters at a Beijing briefing. ``Anyone who tries to speculate on yuan appreciation will be burnt,'' added Li Deshui, a director of the bureau. The comments came a day after China warned exporters against padding the amount of money they bring back to the country as some companies anticipate a revaluation. China is resisting international pressure to allow more flexibility in the currency, and has said improvement in the banking sector is needed before it can relax its 8.3 yuan peg to the dollar. quote.bloomberg.com

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