Speaking at this week’s African Development Bank's annual meeting in Shanghai, Chinese Premier Wen Jiabao stated that China would further reform its currency controls—including taking steps to reduce excess liquidity, and addressing both the balance of payments situation and the rapid accumulation of foreign exchange—in order to create a stable economy. He also once again pledged to allow the markets to play a greater role in setting the value of the yuan, which many say is artificially low and thus gives Chinese exporters an unfair advantage.

China ended the direct link between the yuan and the US dollar in July 2005, and revalued the currency by 2.1%. Since that time the Chinese currency has risen a further 5.3% against the dollar.