10 Jul 2014
Chinese FinMin: Currency intervention necessary
FXStreet (Bali) - Chinese finance minister crossed was quoted by Xinhua news agency saying that currency intervention is necessary.
According to Chinese Finance Minister Lou Jiwei on Wednesday, and cited by Xinhua, "currency interventions are necessary when the economy has yet to fully recover and capital inflow is abnormal."
"The U.S. side has constantly raised the issue about whether intervention is still needed in our foreign exchange policy", Lou said, adding that "we say it's difficult (to abandon the intervention) when the economy has yet to fully recover, and cross-border capital flows are not normal."
According to Chinese Finance Minister Lou Jiwei on Wednesday, and cited by Xinhua, "currency interventions are necessary when the economy has yet to fully recover and capital inflow is abnormal."
"The U.S. side has constantly raised the issue about whether intervention is still needed in our foreign exchange policy", Lou said, adding that "we say it's difficult (to abandon the intervention) when the economy has yet to fully recover, and cross-border capital flows are not normal."