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Yuan’s Surge Indicative of China’s Export Strength: Ec Daily

CHINA PRESS

The yuan's recent surge against the dollar shouldn't be considered excessive as its appreciation across multiple currencies is more representative of the strength of China's exports, the Economic Information Daily said. China needs to follow a more flexible exchange pricing system and allow for independent quotes from market participants. while also managing the risks brought by exchange rate movements, the Daily wrote. It said that China needed to attract more outside capital and increase the efficiency of cross-border resource allocations.

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