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Beijing stresses stable yuan, cautious on exports

Beijing will keep the yuan stable not only to help exporters weather the world economic downturn but also to check the inflow of hot money, the Chinese Ministry of Commerce (MOC) said on Thursday.

China is under increasing US pressure to let the yuan rise after keeping it flat against the dollar since mid-2008.

But at a regular news conference, MOC spokesperson Yao Jian echoed other officials by saying that China would act in its own interests and reform its currency regime in light of domestic and external conditions.

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(Source: scmp.com)