We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control.

Known as the "iron lady" Wu is one of the toughest negotiators in China's government. Following the Tiananmen Square protests of 1989 Wu Yi persuaded coal workers threatening to go on strike to continue working after some of their colleagues had been killed. A protégé of Zhu Rongji Wu Yi became a state councillor in 1998 and was appointed Vice Premier of the State Council in March 2003.

Known as the "iron lady" Wu is one of the toughest negotiators in China's government.