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Yuan Rate Changes Won’t Resolve Trade Gap With U.S., WSJ Says

Aug. 31 (Bloomberg) -- People’s Bank of China Deputy Governor Hu Xiaolian said changes in the Chinese currency’s exchange rate won’t resolve the nation’s huge trade imbalance with the U.S., the Wall Street Journal reported today.

China will continue to encourage use of the yuan by relaxing restrictions, Hu was cited by the newspaper as saying. The global economy was “slowly” recovering and it won’t evolve into a double-dip recession, Hu said, according to the report.

Link to Company News:{PBCZ CH <Equity> CN <GO>}

To contact the reporter on this story: Sophie Leung in Hong Kong at sleung59@bloomberg.net

To contact the editor responsible for this story: Bloomberg News at rdobson4@bloomberg.net

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