China eyes basically steady yuan in 2010: minister

BEIJING (BestGrowthStock) – China will keep the yuan’s exchange rate basically steady this year, Commerce Minister Chen Deming said on Wednesday.

Speaking to reporters on the sidelines of the opening session of the annual Chinese People’s Political Consultative Conference, Chen said he expected 2010 to be a better year for Chinese exports than 2009, when they fell 16 percent.

The yuan has been rooted near 6.83 per dollar since mid-2008 to help China’s exporters weather the global downturn.

Investing Advice

(Reporting by Beijing newsroom, Writing by Alan Wheatley; Editing by Ken Wills)

China eyes basically steady yuan in 2010: minister