Zhou Xiaochuan, China's central bank chief, has said that China supports a strong US dollar, putting weight behind the slumping currency.
The governor of the People's Bank of China, who has just attended a two-day G20 meeting focusing on global financial stability held in South Africa's Cape Town, said on Wednesday that US Treasury Secretary Henry Paulson predicted a long-term recovery of the sliding dollar during the meeting, and asked about the Chinese side's opinion.
Zhou said he told Paulson China hopes to see a strong dollar. He said the slight depreciation of the dollar does not mean the currency is weak.