China's central bank chief and finance minister will discuss the yuan with foreign counterparts at next week's G7 meeting, the government said on Thursday as Washington stepped up its calls for a flexible currency.
The United States and others have pressed Beijing to allow the yuan, which is pegged near 8.28 to the dollar, to move more freely, saying the current level is artificially weak and makes Chinese goods unfairly cheap on world markets.
President George W. Bush said on Wednesday that China and other countries should let market forces set the value of their currencies and that that would likely help reduce the U.S. trade deficit.
Premier Wen Jiabao and other officials have pledged to move gradually to a flexible currency, but stressed conditions such as the need for a healthy financial system and economic stability.
A central bank spokesman said its position on the yuan remained unchanged, but declined to comment further.
"Both finance minister and central bank governor will attend the G7 meeting," said an official with the ministry's international department.
The official did not give details but department head Zhu Guangyao said on Wednesday that the yuan exchange rate would be up for discussion.
The China Daily on Thursday quoted Zhu urging developed nations to maintain global exchange rate stability to help promote the economic growth of developing countries.