Wednesday, August 18, 2010

UPDATE 1-China says to keep pro-exports process pack

Fri Apr 2, 2010 12:45am EDT Related News China to enlarge imports of vital resourcesThu, Apr 1 2010China headed for small Mar traffic deficit-officialThu, Apr 1 2010Easing of China rifts to pave approach for yuan moveThu, Apr 1 2010China shows new groups on yuanTue, Mar thirty 2010UPDATE 1-Yuan not means of China-U.S. traffic gap-ministerTue, Mar thirty 2010 Stocks & &

* China traffic central says not to shift pro-export policies

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* Vice traffic apportion says will confirm yuan on done at home needs (Add quotes, details)

BEIJING, Apr 2 (Reuters) - China will not desert policiesdesigned to foster exports but will enlarge imports andstockpiles of vital resources, Vice-Commerce Minister ChenJian told a forum on Friday.

"China will not shift the pro-export policies," he said.

Asked about either China will shift process on the yuanCNY=CFXS, Chen said: "China will have yuan decisions in aresponsible demeanour according to the own mercantile situation."

He pronounced China"s yuan should not be blamed for globalimbalance.

"It is not suitable to speak as well majority about the exchangerate issue," he said.

Chen done the comments when tensions in between Washington andBeijing over the yuan issue are expected to ease. [ID:nSGE63100G]

Chen"s method has voiced concerns that any yuan climb maygive Chinese exporters a complicated blow as majority exporters work onthin distinction margins and do not have sufficient collection to hedgecurrency risks.

China"s "stress test" in the labour-intensive trade sectorsfound that yuan high regard would severely revoke exporters"profits, the Economic Information Daily reported.

Chen pronounced the yuan highlight exam did not meant Beijing was readyto have any process changes.

He combined that China was expected to book the initial tradedeficit in Mar given Apr 2004 due to a surge in imports.

As for the shelter of Google Inc (GOOG.O) from China and theconviction of 4 Rio Tinto (RIO.AX)(RIO.L) employees, Chen saidthe dual cases will not shift China"s investment sourroundings forforeign investors. (Reporting by Langi Chiang and Alan Wheatley; Editing byJacqueline Wong and Benjamin Kang Lim)

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