Chinese President Hu Jintao said China will be steadfast in the reform of its exchange rate policy while his U.S. counterpart repeated his call for more yuan flexibility during a meeting on the nuclear summit sidelines in Washington on April 12. A Chinese official in Washington characterized the 90-minute talk as "positive and constructive." The meeting came after months of tensions over trade, the Google showdown and Obama's meeting with the Dalai Lama. "China will stick firmly to a path of reforming the yuan's exchange rate formation mechanism … In particular, China won't push forward the reform under external ... (full story)