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EVERETT, Wash. (Reuters) - Chinese President Hu Jintao on Wednesday stood firm against U.S. demands to significantly revalue China's currency as a way of reducing his country's vast trade surplus with the United States.
EVERETT, Wash. (Reuters) - Chinese President Hu Jintao, on the eve of a summit with U.S. President George W. Bush, told employees of aircraft maker Boeing Co. on Wednesday China would need to buy 2,000 new planes in the next 15 years.
WASHINGTON (Reuters) - President George W. Bush failed to win a commitment from Chinese President Hu Jintao on Thursday on immediate steps to reduce China's huge trade surplus with the United States.
CHINA is not expected to take any drastic action to change its currency value, as the current yuan fluctuations, which are both market-regulated and cautiously administered by the central bank, serves the economy of China and the neighbouring countries well, analysts said.
CHINA, which raised benchmark bank lending rates for the first time in 18 months on Thursday, has prompted sky-high world oil and commodity prices and some major stock markets to make a U-turn.