Asia-Pacific

Japan FM hopes yuan reform to benefit world economy

(Xinhua)
Updated: 2010-06-21 11:10
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TOKYO - Finance Minister Yoshihiko Noda on Monday expressed hope that China's move to enhance the flexibility of the RMB (yuan) exchange rate will turn out to be conducive to the global economy.

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Noda said that he welcomes China's decision on yuan's exchange rate.

"I hope it will have a positive impact on the Chinese economy, the Asian economy and the world economy," he told reporters.

On Sunday, Economy, Trade and Industry Minister Masayuki Naoshima also welcomed China's decision, saying that basically it is "good for the global economy."

Voicing his concerns over the yen's appreciation against the dollar or the euro, he said that he will "watch closely" the foreign exchange rate.

Naoshima made the comments to reporters in Fukui Prefecture, where he attended a one-day energy ministers' meeting of Pacific Rim economies Saturday.

China's central bank, or the People's Bank of China (PBOC), announced Saturday that it will further promote the reform of the RMB (yuan) exchange rate regime and increase the flexibility of the RMB exchange rate.