3
July
China says wants diversified FX
3 July 2009 Reuters
China hopes for diversification of the international currency system in the future and it would be "normal" for the issue to be raised at next week's Group of Eight summit, Vice Foreign Minister He Yafei said on Thursday.
But He, who is in charge of China's G8 preparation, told a news briefing he had not heard that Beijing had requested a discussion about reserve currencies at the meetings in Italy.
G8 sources told Reuters on Wednesday that China had asked for a debate on proposals for a new global reserve currency in Italy and the issue could be referred to briefly in the summit statement.
