Renminbi - 'No pressure' to change monetarian constraints

Pressure on the Renminbi to revalue is diminishing, while removing the constraints on the capital accounts will take place in five to six years time, said Guo Shuqing, had of the State Administration of Foreign exchange(SAFE) in the Financial Times.
Deputy governor Lu Ruogu of the People's Bank of China (PBOC) told reporters in the margin of a meeting in Davos that China even did not have a plan to revaluate their currency, writes Reuters. Li said the PBOC was closely watching possible inflation, but repeated the economy was not overheating.
The value of the Renminbi has become a hot issue in the past months, as US lobby groups say that the Renminbi has been undervalued and China would be stealing jobs in the US. Experts, Chinese officials and even the US Administration has denied such a connection, although interpretations on the valuation of the Chinese currency remain.