Wen: China's yuan might be at `equilibrium' level - WAOW - Newsline 9, Wausau News, Weather, Sports

Wen: China's yuan might be at `equilibrium' level

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BEIJING (AP) -- China's premier says the country's yuan might have reached an "equilibrium exchange rate," suggesting further gains against the dollar might be limited.

Premier Wen Jiabao said Wednesday at the end of China's annual legislative session that the yuan has increased in value in real terms by 30 percent since 2005 and evidence suggested the yuan might have reached an "equilibrium exchange rate."

The United States and other governments complain Beijing's currency controls keep the yuan undervalued, giving its exporters an unfair price advantage and swelling its trade surplus.

Wen's comments suggested Beijing is less likely to allow further strong gains by the yuan despite pressure from abroad.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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