Ministry Official Calls Yuan Policy `Responsible,' People's Daily Reports

China’s recent reform of its yuan policy shows that the nation is a “responsible” member of the international community, the People’s Daily reported today, citing Huo Jianguo, head of the Ministry of Commerce’s international economic and trade research institute.

At the same time, overly loose monetary policy in the U.S. has fueled “severe” asset bubbles globally and created economic imbalances, the newspaper cited Huo as saying.

The People’s Daily newspaper is published by China’s Communist Party.

To contact the reporter on this story: Zhe Huang in Beijing at zhuang37@bloomberg.net

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