Ad
Beijing said in June that it would end the renminbi's effective peg with the dollar and allow a gradual appreciation, but the renminbi's rise since that date has been fractional (Photo: EUobserver)

Europe steps up pressure over renminbi

Senior European officials have urged China to allow the value of its renminbi currency to appreciate, warning that a weakened European economy will negatively impact on Chinese growth.

Eurogroup president Jean-Claude Juncker described talks on Tuesday morning (5 October) with Chinese economic officials including Premier Wen Jiabao as "frank and friendly", but added that Beijing must do more to boost domestic consumption.

"We agreed that China's recent growth performance has been...

To read this story, log in or subscribe

Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.

Already a member? Login
Beijing said in June that it would end the renminbi's effective peg with the dollar and allow a gradual appreciation, but the renminbi's rise since that date has been fractional (Photo: EUobserver)

Tags

Ad
Ad
Ad