Goodale Welcomes Announcement on Chinese Exchange Rate Change

News Release

Ottawa, July 21, 2005
2005-051
Minister of Finance Ralph Goodale today issued the following
statement in response to the Chinese government's decision to adopt a more
flexible exchange rate for its currency:

The Government of Canada welcomes China's decision to
move to a more flexible exchange rate regime.
Canada and the rest of the G7 have been saying for some
time that increased flexibility in the Chinese exchange rate would benefit
the Chinese economy and would contribute to greater stability in the
global economy. Today's announcement makes it clear that the Chinese
authorities agree.
It remains to be seen exactly how the new system will work
and how much flexibility it will provide. But this is an encouraging first
step.

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___________________________________
For further information, media may contact:

John Embury
Director of Communications
Office of the Minister of Finance
(613) 996-7861

David Gamble
Public Affairs and Operations Division
(613) 996-8080

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2016-12-15

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Goodale Welcomes Announcement on Chinese Exchange Rate Change

News Release

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