China to keep RMB stable

China responded to US President Barack Obama’s suggestion that the country should consider a “market oriented exchange rate” by maintaining that the RMB will remain stable.

With the current squabble over the exchange rate between US and China , the Chinese government believes that the RMB is not to blame for the recent US-China trade surplus and refuses to involve politics, adding that doing so will affect the global financial crisis. China currently attracts a steady amount of foreign investors, despite a few uncertainties this year. The Chinese government is taking measures to ensure that foreign companies are treated equally in Chin. Foreign direct investment in China increased for the seventh straight month in February, up 1.08 percent annually to US$5.89 billion.

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