Yuan exchange rate to be 'basically stable'

Updated: 2011-12-14 13:21


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BEIJING - China will maintain the exchange rate of the yuan, or its currency Renminbi, "basically stable" next year, said a statement issued after the country's central economic work conference closed on Wednesday.

The country will also deepen the market-oriented reform of its interest rate and reform on the formation mechanism of the yuan's exchange rate, according to the statement.