China to Keep Yuan Stable

China's central bank pledged on Saturday to keep the yuan's exchange rate basically stable in 2010 and said it will enhance coordination with its foreign counterparts on major policy issues.

The People's Bank of China will continue to push forward multi-polarization of the international money system, according to a statement issued ahead of a news conference on the sidelines of the annual session of the NPC.

The central bank said it would keep sufficient liquidity in the banking system and further encourage domestic banks to issue yuan bonds in Hong Kong.

(Source: China Daily)