Snow calls on China to make yuan more flexible

U.S. Treasury Secretary John Snow called on China to continue with development of its financial markets on Wednesday 12 October, including a more flexible exchange-rate system.

China's financial markets ``have the potential to play a much bigger role in the economy,'' Snow told reporters during a tour of the Shanghai Stock Exchange. He repeated a call for China to let the yuan trade more freely, after the government dropped the currency's decade-old peg to the dollar in July.

The gap between the

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