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China Daily Website
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Zhou: Exchange rate to be more flexible

Updated: 2012-03-05 18:55
By Zhou Siyu ( chinadaily.com.cn)

BEIJING — China is now able to allow its currency more room to fluctuate, Zhou Xiaochuan, governor of China’s central bank, said during the Fifth Session of the 11th National People’s Congress on Monday.

The country is now adjusting its industrial structure and its currency has reached a stable level, Zhou explained.

“Now we can establish a (currency exchange rate) mechanism to better reflect market demand,” Zhou said.

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