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China says to keep yuan stable
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China pledged to keep the exchange rate of yuan "basically stable", according to a government work report to be delivered by Premier Wen Jiabao at a parliament session Thursday.

The country will keep the exchange rate of China's yuan, or Renminbi, basically stable "at an appropriate and balanced level" says the report.

The central parity rate of the yuan was 6.8395 per U.S. dollar Wednesday, after weakening against the dollar for a seventh straight trading day.

The government also vowed to improve the exchange rate regime of the yuan, according to the report.

(Xinhua News Agency March 5, 2009)
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