Jiang rattles the sabres again:
China's policy on yuan stability may not be permanent: Jiang
afp.com
Wed 02 Sep 98 - 08:01 GMT
TOKYO, Sept 2 (AFP) - Chinese President Jiang Zemin said Beijing's commitment to keeping the yuan stable may not last forever, a report here said Wednesday.
"China has chosen to stablize the yuan by paying a great price and taking a risk, and there has been no change so far," the Tokyo Shimbun newspaper quoted Jiang as telling former Japanese premier Toshiki Kaifu in a meeting in Beijing.
But referring to the possibility of a devaluation of the currency, he added: "I cannot be 100 percent certain of how things will go in this world."
"This kind of situation may not last forever," Jiang was quoted as saying in Tuesday's meeting, when he met with Kaifu and the newspaper's president Hirohiko Oshima.
The Chinese president was also quoted in the leading business daily Nihon Keizai Shimbun as telling Kaifu: "I am paying attention to the recent financial situation in Japan."
"I would like Japan to fulfil a role of stabilising financial systems in Asia and across the world."
Financial markets have been concerned the weakness of the yen against the dollar and a worsening international financial situation could force Beijing to devalue the yuan.
For its part China has pledged not to devalue its currency.
Besides discussing the Chinese currency, Jiang told Kaifu he had yet to set a date for his expected visit to Japan.
Jiang was due to make an official visit here on September 6, but cancelled the trip, blaming the problems of severe flooding in China.
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