BEIJING, June 7 -- Coming ahead of the G8 finance ministers' pre-Gleneagles meeting in London this Friday, whether the yuan exchange rate will be discussed has drawn widespread attention.

    In recent months, China has come under increasing pressure from countries such as the United States to adjust its currency's peg to the dollar.

    A senior Chinese analyst from the London-based Financial Times, Zhang Lifen, believes the discussion of Renminbi's appreciation is likely to be high on the agenda.

    "The United States may continue to pose pressure on China in such an international occasion," said Zhang."It may not only push China to quicken the appreciation process but also raise adjustments on the scale of appreciation. Other countries are also likely to lobby China to do so."

    Britain has invited finance ministers and leaders from China, India, Brazil and South Africa to the London meeting to discuss the global economy and development.

    Zhang Lifen says under current circumstances, China's Finance Minister Jin Renqing and Central Bank governor Zhou Xiaochu will face a hard job at the meeting.

    The two Chinese officials are most likely to just reiterate China's attitude on exchange rate. That is, China is open to discussing its currency but will not be pressured. China hopes the international community, especially the US, gives more rooms and time for China to set its own timetable for Renminbi appreciation.

    The summit of the G8 finance ministers and leaders will be held next month in Gleneagles, Scotland.

    (Source: CRIENGLISH.com)