EU Officials to Urge China to Strengthen Yuan During Beijing Visits, Report Says
EU economic officials will visit Beijing to press China to let the yuan strengthen and help narrow the bloc's growing trade deficit.
Top European economic and finance officials are set to visit Beijing as they seek to persuade Chinese policymakers to let the yuan strengthen, according to an exclusive report by the South China Morning Post.
The proposed currency move is intended to help shrink a surging trade gap, the report said.
Maarten Verwey, the European Commission’s director general for economic and financial affairs, would lead a delegation to the Chinese capital in the week of November 23.
A joint mission would follow around year-end.
Source: South China Morning Post
Frequently asked questions
Why are EU officials visiting Beijing?
They want to persuade Chinese policymakers to let the yuan strengthen.
What is the intended effect of a stronger yuan?
The proposed currency move is intended to help shrink the European Union's surging trade gap.
Who will lead the delegation to Beijing?
Maarten Verwey, the European Commission's director general for economic and financial affairs, will lead the delegation.
When is the first EU mission expected to visit Beijing?
The first delegation is expected to visit in the week of November 23.
Will another EU mission follow?
Yes. A joint mission is expected to follow around year-end.
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