The Western economists and government officials have increased their calls for China to let its currency to appreciate.  In its report on monetary policy released Wednesday, the People's Bank of China for the first time said that the bank would improve the mechanism of the exchange rate determination "based on international capital flows and movements in major currencies".

However, that does not mean Chinese yuan will get boosted in the short term.  "The new wording showed that China would reduce speculation and strengthen risk control in the future, but it did not necessarily suggest a change in the yuan's exchange rate policy," said Tan Yaling, an expert with the China Institute for Financial Derivatives at Peking University.

"All in all, the exchange rate policy should not be subjected to other countries but serve our own economy."  Tan said.