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| China-Japan-Koreas |
| China says U.S. agrees to have yuan in IMF basket |
| 2012-05-05 |
| The United States supports China's bid to have the yuan included in the International Monetary Fund's basket of currencies, Chinese Vice Premier Wang Qishan said on Friday after high-level talks between Beijing and Washington. China wants the yuan to be part of the IMF basket of currencies as part of long-term plans to turn the yuan into an alternative reserve currency next to the dollar and the euro. But the IMF has said a currency needs to be convertible before it can be included in the basket. China envisions the yuan will only be convertible by 2015. |
| Posted by:tipper |