A currency and banking workgroup of US and Chinese officials will hold its first meeting in Beijing to discuss the valuation of the Chinese yuan. The workgroup is the result of talks between Presidents Bush and Hu Jintao in fall 2003. The six-member US delegation will be led by Assistant Treasury Secretary David Loevinger and will meet with officials from China's central bank and other agencies. The US delegation will focus on clearing a path towards allowing the value of the yuan to be set by the financial markets.
Categories