China calls for stability of US dollar

Watch Video>>

China has called on the United States to shoulder the responsibility of maintaining the stability of the US dollar.

Chinese Vice Foreign Minister He Yafei made the request at a pre-G8 summit briefing held in Rome, Italy.

Chinese Vice Foreign Minister He Yafei

He underscored the need to maintain a stable US dollar, saying the currency is a major reserve currency in the settlement of international trade. As many countries had called for the stability of the US dollar, the Chinese official explained that it is natural for China to voice concern regarding the safety of its assets in the US.

He Yafei noted that the US dollar would continue to be the most important major international reserve currency in the years to come. And he expressed China's appreciation for the US efforts to stabilize the value of the dollar.