RMB Exchange Rate

No big surprises here.

The Chinese government would further allow the market to determine the RMB exchange rate and more flexibility to the RMB band, Chinese Premier Wen Jiabao said Wednesday. Wen made the remarks during a speech at the fourth EU-China Business Summit held here, which attracted about 500 entrepreneurs from China and the European Union (EU). However, the premier also emphasized China would improve the RMB exchange rate regime "in a proactive, manageable and gradual manner," with a view to gradually enabling capital account convertibility.