Bucking recently lowered expectations, China puts out a statement ahead of the G-20 summit...

|By:, SA News Editor

Bucking recently lowered expectations, China puts out a statement ahead of the G-20 summit saying it will "increase the renminbi’s exchange-rate flexibility" following an improvement in the economy. China didn't set a timeline for the change, and ruled out a one-off revaluation, saying there is no basis for “large-scale appreciation."