Wen rejects calls for yuan revaluation

While Chinese premier Wen Jiabao announced his highest priority in 2005 is to manage China's "overstretched" economy, he rejected demands by China's trading partners to revalue the yuan, saying that those advocating such a move aren't considering the impact it would have on the global economy. Speaking the news conference at the end of the NPC session, Wen created a stir when he said reforms to make the pegged Chinese currency more flexible may come "unexpectedly".