China serious about yuan improvement

China is committed to improving its exchange rate system based on domestic and international economic conditions, a foreign ministry spokesman said yesterday.

Ma Zhaoxu was responding to a question at a regular press briefing about how the yuan will figure in next week's Strategic and Economic Dialogue with the US. His comments were a reiteration of the government's long-standing position on the yuan, which has been re-pegged to the dollar since mid-2008 to cushion the economy.