Nov. 13 (Bloomberg) -- China won’t let the yuan gain against the U.S. dollar in the short term, the official Xinhua News Agency reported, citing researchers.

The new wording on monetary policy by the People’s Bank of China in its latest quarterly report didn’t necessarily suggest a change in the yuan exchange rate policy, the report said, citing Tan Yaling, a researcher with the China Institute for Financial Derivatives at Peking University.

To contact the reporter on this story: Theresa Tang at ttang3@bloomberg.net

Last Updated: November 12, 2009 18:47 EST