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Europe Daily Bulletin No. 8996

23 July 2005
Contents Publication in full By article 11 / 51
GENERAL NEWS / (eu) eu/china/trade
Commission welcomed revaluing of Chinese yuan but does not expect it to have any direct impact on trade

Brussels, 22/07/2005 (Agence Europe) - On Friday, the European Commission welcomed the Chinese government's decision to increase the value of the Chinese yuan by 2%, setting a new exchange rate of 8.11 yuan per US dollar and linking the yuan to a basket of currencies. Before the move, the parity rate was 8.28 yuan per US dollar. China's main trading competitors (the EU and the United States) have been saying for a long time that the yuan was being kept artificially low by the Chinese...

Contents

A LOOK BEHIND THE NEWS
THE DAY IN POLITICS
GENERAL NEWS
ECONOMIC INTERPENETRATION