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Strategies & Market Trends : Asia Forum

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To: Rmn who wrote (145)	12/26/1997 11:31:00 AM
From: RealMuLan	Read Replies (1) of 9980

<< I wonder if you could comment on China and the possibility of a yuan devaluation? Wednesday December 24, 1:29 am Eastern Time China's Zhu says no yuan devaluation -- paper TOKYO, Dec 24 (Reuters) - China's Vice-Premier Zhu Rongji told Japanese business leaders that there will be no devaluation of the yuan while he is in office and that the country will try to increase foreign investment by taking steps such as restoring tariff exemptions on January 1, Japanese business daily Nihon Keizai Shimbun said on Wednesday. He made the remarks in Beijing on Tuesday at a meeting with Jiro Nemoto, chairman of the Japan Federation of Employers' Associations (Nikkeiren), and other Japanese businessmen who were visiting China, the paper said. Regarding financial turmoil in Asia, the paper quoted Zhu as saying: ''Until I retire, China will definitely not devaluate the yuan.'' Zhu also said that China would abolish or cut tariffs and value-added taxes imposed on investment from abroad in order to boost foreign investment, the paper said.

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