Wednesday, February 18, 2009

Chinese economic planner refutes rumor of yuan depreciation


Special Report: Global Financial Crisis
BEIJING, Feb. 18 (Xinhua) -- The National Development and Reform Commission (NDRC) said in a statement Wednesday that the report of its officials' estimating the depreciation of yuan to 7 against the U.S. dollar was "totally fabricated".
China Briefing News on Tuesday quoted NDRC vice chairman Zhang Xiaoqiang as saying that the RMB could weaken to around 6.9 to 7 against the U.S. dollar.
The website of the China Briefing News has released a correction.

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