From Li Ruogu, the assistant governor of the People's Bank of China on Oct. 3rd. Although old news, but still quite relevant.
"No timetable
In his speech, Li said, "We have already said, time and again, that we are moving towards more market-based, supply-and-demand based, exchange rates. How long it takes, I don't know," he said.
He said that in China's 8,000 year history, a decade was a short time.
"I have no timeframe," he said.
Li said that the United States agreed in 1984 to gradually reduce Taiwan arms sales and "nothing has happened."
"In the past twenty years, nothing has happened," he said.
"There is no timeframe, but that doesn't mean there is no determination," he said.
"We are determined to move towards more flexibility when the conditions permit," he said."
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