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NDRC: China to continue towards market determining RMB

By Si Tingting (China Daily)
Updated: 2008-11-27 14:07

NDRC Nov 27 Press Conference

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Zhang Ping, minister of the National Development and Reform Commission (NDRC), China's top economic planning body, said at a press conference this morning that China will stick to the direction of letting the market determine the value of RMB.

"China will stick to this direction in the long term," said Zhang. The RMB has appreciated by 20 percent since China de-pegged it from the US dollar in July 2005.