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Wen Jiabao: No RMB Appreciation under Pressure

In an interview on December 27, 2009, Chinese Premier Wen Jiabao commented on the RMB’s value. Wen confirmed that the RMB will not undergo any appreciation as a result of outside pressure. He suggested that protectionism is rising rapidly against China. Some countries are coming up with a large number of trade barriers, even in the name of environmental protection. Wen believes keeping a stable RMB value is China’s contribution to the world economy. Meanwhile, he is not optimistic about next year’s trend of Chinese exports.

Source: Xinhua, December 27, 2009