Link yuan with several currencies - Mandelson

China would benefit from pegging the yuan to a basket of currencies, European Union Trade Commissioner Peter Mandelson said today…

China would benefit from pegging the yuan to a basket of currencies, European Union Trade Commissioner Peter Mandelson said today.

"I think it is to the advantage of China to move from a system in which the currency in pegged only to the dollar and approach the currency pegged to a range of currencies, including the euro," he told reporters.

He added the issue would be discussed in Brussels today with visiting US Treasury Secretary John Snow.

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