Former China Central Bank Adviser Yu Calls for Stronger Yuan

China should allow its currency to strengthen against the dollar to keep a lid on consumer prices, former Chinese central bank adviser Yu Yongding said.

“To allow the renminbi to appreciate would help fight inflation,” Yu said in an interview with Bloomberg Television’s Sara Eisen at the Bretton Woods conference in New Hampshire last weekend. Rising prices are “conducive for China to allow it to be more flexible” on its exchange rate, he said.