Economists rule out May revaluation They say the first step to a more flexible currency regime will be a wider yuan trading band, but don't expect it any time soon.

(From South China Morning Post)

Byline: Shi Ting

Mainland economists are playing down the wave of speculation about an imminent revaluation of the yuan, saying the central government is unlikely to alter the country's exchange-rate mechanism in the near future.

"Most of the talk about yuan revaluation stems from western investment banks, which have a considerable stake in the Chinese market," said Zhao Xijun , deputy director of the Research Centre of Finance and Securities at Renmin University.

"But China will not alter its currency regime when speculation in the foreign exchange market is intensifying. A renminbi revaluation seems most …