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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (4799)5/11/2005 7:41:46 PM
From: RealMuLan  Read Replies (1) of 6370
 
[LOL, so many conflicting rumors, and every one of them has an invested interested group behind for serving their own hidden agenda!]--"US Treasury denies reports of China visit next week"
Wed May 11, 2005 11:24 AM ET
WASHINGTON, May 11 (Reuters) - U.S. Treasury officials have no plans to visit China next week, a Treasury Department spokesman said on Wednesday, denying media reports of talks.

"The report in media reports is inaccurate," Treasury Spokesman Tony Fratto said, referring to a People's Daily newspaper report of a meeting next week between the "U.S. financial minister" and a Chinese central bank official.

The misunderstanding appeared to stem from a wrong translation in the People's Daily, China's top newspaper, that also predicted a revaluation in the Chinese yuan next week.

China's central bank on Wednesday denied it had changed its currency policy and said the report was wrong.

An official from the People's Daily, which is the mouthpiece of the ruling Communist Party, said the report was a translation of a May 7 news agency article.

Officials from the People's Bank of China were in Washington on May 9 for discussions that included foreign exchange.

© Reuters 2005. All Rights Reserved. reuters.com
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