"Dysfunction of the current world financial system is so deep that the classic recipes do not work. The West cannot conduct strategies to resolve the economic crisis without the Chinese."

Michel Rocard, former French prime minister, saying that the West expects China, under its new leadership, to play a greater world role as Beijing's involvement is essential in resolving the economic downturn and creating new order in the global financial system.

"The yuan will continue to fluctuate as the central bank strengthens market-oriented reforms."

Wu Xiaoling, a former deputy central bank governor and now the vice-chairman of the National People's Congress Financial and Economic Affairs Committee, saying that China will not engage in currency wars by depreciating the value of the yuan through monetary easing policies to shore up the economy, as some major economies have done.

(China Daily 03/15/2013 page14)