China should steadily push the..........>

CHINA PRESS: China should steadily push the market-based reform of its foreign

exchange forming mechanism and not rush to realize the free floating of the yuan

exchange rate, China Securities Journal reported Thursday.

- China should reduce direct intervention in yuan's exchange rate formation and

match the rate of reform with the speed of overall opening up: Xie Fuzhan, head

of Chinese Academy of Social Sciences;

- A free-floating currency isn't a realistic or ideal goal, while floating based

on certain management is the realistic, the journal said citing Ding Zhijie,

deputy head of University of International Business and Economics.