The move could nonetheless help Chinese exporters' profits by cutting costs for imported oil, iron ore and other raw materials whose prices have been surging in dollar terms, Gong said.
Carefully buried in a sea of PC garbage, there is the reason.
4 posted on 07/21/2005 7:33:58 AM PDT by bill1952
("All that we do is done with an eye towards something else.")
The move could nonetheless help Chinese exporters' profits by cutting costs for imported oil, iron ore and other raw materials whose prices have been surging in dollar terms, Gong said.
I think they need dollars to buy these materials. Outside of China the Yuan is worthless.