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Technology Stocks : C-Cube -- Ignore unavailable to you. Want to Upgrade?

To: Rarebird who wrote (38564)	1/25/1999 2:31:00 PM
From: SC	Respond to of 50808

The title was misleading. Quotes from the link, "The China Daily quoted Wu Nianlu, vice-chairman of the China Society for International Finance, as saying the yuan would remain stable but could move up or down slightly. "The renminbi will still be able to maintain its stability this year, but this doesn't root out the possibility of small-range ups and downs," he said. Speculation that China would devalue the yuan swept Asian markets last week. But Foreign Ministry spokesman Sun Yuxi told a news briefing on Thursday that the "Chinese Government will continue to maintain the value of the yuan". Mr Sun said China was reforming its financial system "to enhance China's capability against external financial risks". "The reforms enable the financial regime to develop in a more steady and sound manner," he said. The China Daily played down the impact of the devaluation of the Brazilian real on China. "Although Brazil is China's largest trade partner in the Latin American region, it only accounts for a small part of the Chinese foreign trade aggregate," said the paper. "