Yahoo! News: World - China

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• Canada welcomes China currency shift (AFP)
• Peg is dead as China vows yuan flexibility before G20 (Reuters)
• For U.S., yuan talk is good, action is better (Reuters)
• Analysts' View: China vows yuan flexibility ahead of G20 (Reuters)
• US welcomes China currency move, but doubts persist (AFP)
• China makes long-awaited currency move (AFP)
• China to allow more exchange rate flexibility (AP)
• Caterpillar calls China move on yuan encouraging (Reuters)
• Geithner says test is how much China yuan moves (Reuters)
• China currency move overdue, more needed: Grassley (Reuters)
• Obama says China's yuan move a "constructive" step (Reuters)
• China's central bank statement on the yuan exchange rate (Reuters)
• China's Xi visits Australia amid mining tax spat (AFP)
• Factbox: Main features of China's currency system (Reuters)
• Toyota resumes China plant output as strike ends (Reuters)
• Lessons from failed Cold War spy mission in China (AP)
• China currency move not enough: Senate aide (Reuters)
• More than a million evacuated in China over flood threat (AFP)
• At least 136 dead or missing in China floods (Reuters)
• 90 dead in southern China flooding; 1.4M evacuated (AP)

Canada welcomes China currency shift (AFP) Posted: 19 Jun 2010 03:39 PM PDT AFP - Canada Saturday praised the announcement by China that it would seek a more flexible exchange rate, saying it would help lead to more balanced and sustainable global economic growth.

Peg is dead as China vows yuan flexibility before G20 (Reuters) Posted: 19 Jun 2010 03:06 PM PDT Reuters - China said on Saturday it would gradually make the yuan more flexible, in a gesture that may deflect foreign criticism at next week's G20 summit but will not quickly yield a big move by its currency.

For U.S., yuan talk is good, action is better (Reuters) Posted: 19 Jun 2010 01:48 PM PDT Reuters - China's unexpected pledge on Saturday to allow its currency to rise more rapidly will probably make for a less contentious meeting with Group of 20 world leaders in Toronto next week.

Analysts' View: China vows yuan flexibility ahead of G20 (Reuters) Posted: 19 Jun 2010 01:37 PM PDT Reuters - China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday, indicating that it was ready to break a 23-month-old U.S. dollar peg that has come under intense fire from abroad.

US welcomes China currency move, but doubts persist (AFP) Posted: 19 Jun 2010 01:34 PM PDT AFP - US President Barack Obama welcomed China's decision Saturday to make its yuan exchange rate more flexible, saying it would boost global economic recovery from a battering financial crisis.

China makes long-awaited currency move (AFP) Posted: 19 Jun 2010 01:07 PM PDT AFP - China's central bank said Saturday it would make its yuan exchange rate more flexible, an indication analysts said that Beijing was ready to scrap the dollar peg and allow the currency to rise.

China to allow more exchange rate flexibility (AP) Posted: 19 Jun 2010 11:31 AM PDT AP - President Barack Obama welcomed China's announcement Saturday that it will allow a more flexible exchange rate for its currency, saying it would help protect the economic recovery.

Caterpillar calls China move on yuan encouraging (Reuters) Posted: 19 Jun 2010 11:01 AM PDT Reuters - Caterpillar Inc , the U.S. machinery giant that sells billions of dollars of earth-moving equipment and other products to China each year, said on Saturday it was heartened by China's move to gradually make the yuan more flexible, saying it would help lift U.S. exports.

Geithner says test is how much China yuan moves (Reuters) Posted: 19 Jun 2010 10:46 AM PDT Reuters - Treasury Secretary Timothy Geithner welcomed China's decision on Saturday to make its yuan exchange rate more flexible, but said "the test is how far and how fast they let the currency appreciate."

China currency move overdue, more needed: Grassley (Reuters) Posted: 19 Jun 2010 10:36 AM PDT Reuters - The top Republican on the Senate's tax-writing committee on Saturday called China's yuan move overdue and said the United States should continue pressing for the currency to appreciate in value.

Obama says China's yuan move a "constructive" step (Reuters) Posted: 19 Jun 2010 09:41 AM PDT Reuters - President Barack Obama on Saturday welcomed China's announcement that it would resume exchange rate reform to make its yuan currency more flexible.

China's central bank statement on the yuan exchange rate (Reuters) Posted: 19 Jun 2010 09:20 AM PDT Reuters - Below is a full text statement from The People's Bank of China on the yuan's exchange rate as posted on their website (http://www.pbc.gov.cn/english/detail.asp?col=6400&id=1488).

China's Xi visits Australia amid mining tax spat (AFP) Posted: 19 Jun 2010 08:51 AM PDT AFP - China's leader-in-waiting Xi Jinping began a five-day tour of Australia Saturday, with Beijing seeking assurances over a proposed 40 percent tax on mining industry profits.

Factbox: Main features of China's currency system (Reuters) Posted: 19 Jun 2010 08:34 AM PDT Reuters - China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday a week before a G20 summit, strongly suggesting that it was ready to break the currency's 23-month-old dollar peg.

Toyota resumes China plant output as strike ends (Reuters) Posted: 19 Jun 2010 07:47 AM PDT Reuters - Toyota Motor Corp (7203.T) avoided a prolonged suspension of production at its main Chinese car factory when a strike at a plastic parts supplier was settled on Saturday.

Lessons from failed Cold War spy mission in China (AP) Posted: 19 Jun 2010 07:29 AM PDT AP - Detail by painful detail, the CIA is coming to grips with one of the most devastating episodes in its history, a botched cloak-and-dagger flight into China that stole two decades of freedom from a pair of fresh-faced American operatives and cost the lives of their two pilots.

China currency move not enough: Senate aide (Reuters) Posted: 19 Jun 2010 07:17 AM PDT Reuters - China's announcement that it will make its currency more flexible is a positive step but probably won't satisfy lawmakers pushing for a major appreciation, a senior Senate aide said on Saturday.

More than a million evacuated in China over flood threat (AFP) Posted: 19 Jun 2010 05:59 AM PDT AFP - More than a million people living along rivers in China's south have been evacuated with water rising to dangerous levels, state media said Saturday, as torrential rains left at least 88 dead.

At least 136 dead or missing in China floods (Reuters) Posted: 19 Jun 2010 02:58 AM PDT Reuters - Floods and landslides across southern China have killed at least 88 people and left 48 missing in a week, Xinhua news agency said on Saturday.

90 dead in southern China flooding; 1.4M evacuated (AP) Posted: 19 Jun 2010 01:11 AM PDT AP - The death toll from flooding this week in southern China rose to 90 Saturday, and 1.4 million people were evacuated as the inundated region prepared for more heavy storms.

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