ADB chief urges Beijing to voluntarily revalue yuan+

TASHKENT, May 1 Kyodo -
The president of the Asian Development Bank, Haruhiko Kuroda, urged the Chinese
government Saturday to voluntarily let its currency, the yuan, appreciate.
At a press conference in Tashkent, which will host the ADB general meeting on
Monday and Tuesday, Kuroda said a flexible currency regime will contribute to
the smooth adjustment of the economy, although China should decide when and by
how much it should appreciate.
Kuroda also said that while the Asian economy was not the last to recover from
the global financial crisis, overheating in real estate markets in China and
rises in crude oil prices still remain concerns for the regional economy.
Kuroda also said the scale of the ADB operations in 2009, including its loans,
rose 42 percent from the previous year to around $16.1 billion (some 1.5
trillion yen) as it enhanced financial support for crisis-hit developing
countries.
The ADB is expected to maintain its operations at around the same level this year.
Referring to the turmoil in Europe caused by the Greek debt problem, Kuroda
said there is little concern that it will spread to Asia.
In Tashkent, meanwhile, the Japanese government officially decided to extend
27.4 billion yen of credit to Uzbekistan, which will be used to expand a power
station in the country.
Finance Minister Naoto Kan, who visited the country to take part in the ADB
general meeting, attended the signing ceremony.
The ADB will also extend $350 million (33 billion yen) in loans to Uzbekistan.
==Kyodo