"We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control"
About this Quote
Placed in its likely context - the long years when foreign governments and investors pressured Beijing to let the yuan rise and float more freely - the quote reads as both reassurance and warning. Reassurance to international audiences: China is moving toward a more market-compatible currency regime. Warning to domestic constituencies: the leadership will not let currency policy become a destabilizing force, or worse, a conduit for political vulnerability. "Good economic conditions" is not neutral technocracy; it's a veto. If employment, exports, or financial stability look shaky, the timetable slips.
The subtext is also about sovereignty. Exchange rates are a national bargaining chip, especially for an export-driven economy. Wu Yi frames reform as something China will do on its own terms, insulated from external hectoring and internal speculation. It's the rhetoric of managed openness: invite the world in, keep a hand on the lock.
Quote Details
| Topic | Money |
|---|---|
| Source | Help us find the source |
| Cite | Cite this Quote |
Citation Formats
APA Style (7th ed.)
Yi, Wu. (n.d.). We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control. FixQuotes. https://fixquotes.com/quotes/we-are-now-preparing-for-the-reform-of-the-yuans-170426/
Chicago Style
Yi, Wu. "We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control." FixQuotes. Accessed February 3, 2026. https://fixquotes.com/quotes/we-are-now-preparing-for-the-reform-of-the-yuans-170426/.
MLA Style (9th ed.)
"We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control." FixQuotes, https://fixquotes.com/quotes/we-are-now-preparing-for-the-reform-of-the-yuans-170426/. Accessed 3 Feb. 2026.
