Chinese executives are joining U.S. President Barack Obama in backing a stronger yuan, even as Premier Wen Jiabao says the currency isnÃ¢â‚¬â„¢t undervalued. Yang Yuanqing, chief executive officer of Beijing-based computer maker Lenovo Group Ltd., said appreciation would boost consumersÃ¢â‚¬â„¢ purchasing power. Qin Xiao, chairman of China Merchants Bank Co., said an end to the yuanÃ¢â‚¬â„¢s 20-month peg to the dollar would let lenders set market-based interest rates. Chen Daifu, chairman of Hunan Lengshuijiang Iron & Steel Group Co., said a stronger currency would cut import costs.
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