The over appreciation of the renminbiwill cause turbulence in the Chineseeconomy, said Chen Deming, ViceMinister of Commerce, during theThird China-U.S. Strategic EconomicDialogue held in the middle of last December.However, directly after his remarks, theChinese currency took a sudden rise. OnJanuary 14, the average value of the yuan, adenomination of China"s currency also knownas the renminbi, against U.S. dollar was 7.2566,a record high since the reform of the yuan ex-change rate regime in 2005, and the yuan hasappreciated about 12 percent since then.

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