Wen Jiabao, Chinese premier, has warned other countries that pressing China on currency policy amounted to protectionism and insisted that the renminbi was not undervalued.
Mr Wen said China would continue to reform its currency system. But he pushed back strongly against international pressure on the level of the exchange rate, which is becoming a flashpoint in relations with the US.
Speaking at the end of the National People’s Congress, he added that China was still “very concerned” about the safety of its US dollar investments.
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