China’s Wen Jiabao pledged Sunday to take action to control inflation in the domestic economy, including rising house prices, and again resisted calls for a quick and sharp appreciation of the yuan. In an online chat hosted by the official Xinhua News Agency, Wen said that yuan reform will continue, but only at a gradual pace to avoid bankruptcies and job losses. The premier’s latest semi-regular online appearance comes amid rising public anger about inflation and widespread discontent about the affordability of housing. – iMarketNews
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