Wang Yong, a professor with the People's Bank of China's training school in Zhengzhou, Henan province, said China should widen the yuan's daily trading band against the dollar in the onshore market.
Doing so will make the yuan more flexible and help China move toward its long-standing goal of developing its financial markets, Wang said in an opinion piece in the official Securities Times.
He did not elaborate on why he thought another one-off revaluation was unnecessary.
Chinese officials, including Premier Wen Jiabao, have repeatedly ruled out another one-off revaluation since the landmark move to revalue the yuan by 2.1 percent in July 2005.
Meanwhile, the government has pledged to increase yuan flexibility to make the currency more responsive to market supply and demand, effectively permitting gradual appreciation.
But that has not stamped out talk that another revaluation may be on the cards. Xia Bin, an academic advisor to the central bank, said earlier this week another one-off yuan revaluation could not be ruled out in coming years. (Reuters)
