Bloomberg News

Harper Says It’s Important China Act on G-20 Currency Pledges

February 07, 2012

Feb. 7 (Bloomberg) -- China must implement commitments made to the Group of 20 nations and allow freer trading of its currency, Canadian Prime Minister Stephen Harper said.

“China committed to move more rapidly toward a market- determined exchange rate system, enhance exchange rate flexibility to reflect underlying fundamentals, and refrain from

competitive devaluation of its currency” at a November G-20 meeting in France, Harper said, according to the transcript of an interview last week with Xinhua news agency.

“There has been a modest appreciation in the yuan against the U.S. dollar” since November, Harper said. “It is important for the credibility of China’s policymakers and the G-20 that China follows through on its commitments.”

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net


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