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Economy

Sino-US agreement on yuan exchange rate report untrue: ministry

(Xinhua)
Updated: 2010-04-19 13:21
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BEIJING - Recent Chinese media reports that China and the United States had reached a tentative agreement on the exchange rate level of yuan, or China's currency renminbi, were untrue, a spokesperson of the Chinese Ministry of Commerce (MOC) told Xinhua Monday.

According to the media reports, China's Vice Minister of Commerce Zhong Shan said at the ongoing 107th China Import and Export Fair in Guangzhou that the yuan exchange rate would remain basically stable after discussions between the two sides.

But the MOC spokesperson refuted the reports, saying that Zhong had not said this.