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China Is `Looking Into' Yuan Policy Moves, Communist Party Official Says

China is “looking into” yuan policy changes, Li Yuanchao, a senior Communist Party official, said in an interview in Singapore today.

Asked if the government has reached a consensus on whether the yuan will be revalued, Li said: “This is an issue we are looking into.” He was speaking through a translator before getting into a waiting car.

Speculation that China may scrap the yuan’s peg to the dollar intensified this month after U.S. Treasury Secretary Timothy F. Geithner delayed a report that could brand the nation a currency manipulator and made an unscheduled visit to Beijing. The U.S. is pressing for a stronger yuan to help redress global trade imbalances.

Asked if the government has reached a consensus on the timing of any revaluation, Li said through the translator: “This is still a question we are looking into.”

Li, a member of the Communist Party’s Politburo, was at a function at the Lee Kuan Yew School of Public Policy.

To contact the reporter on this story: Katrina Nicholas in Singapore at knicholas2@bloomberg.net.

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