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China Agrees to Scale Back Currency Controls

U.S. and Chinese officials have closed two days of talks in Beijing that included discussions on cyber-security, currency controls, and rival territorial claims in the South China Sea. As Chinese manufacturers produce more goods to meet growing domestic demand, China has agreed to scale back intervening in its currency market, . Chinese Central Bank Governor Zhou Xiaochuan said, "We will allow market supply-and-demand relation to play a bigger role in determining the exchange...

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