August 30 2011, 1:05PM
Federal Treasurer Wayne Swan will remind policymakers in Hong Kong and China that market-based currencies are one of the structural reforms needed to cure imbalances in the global economy.

Mr Swan is visiting Hong Kong where he will meet its chief executive, finance minister and central bank chief executive, before travelling on to China's largest province and key trading partner with Australia, Guangdong.

Reserve Bank governor Glenn Stevens said last week that a floating Chinese currency would benefit everyone, rather than being pegged artificially low.

"Australia is a very strong believer in a floating currency and is one of the structural reforms required in the global economy, particularly from large developing countries," Mr Swan told CNBC television on Tuesday.

"That is part of dealing with the global financial imbalances."

Source:tradingroom