Published by Jamie JemmesonChina's growth forecasts for 2011 would be impeded by a substantial rise in the yen, two senior government researchers have claimed.Reuters reports that Li Jianwei and Yu Bin, writing for Chinese-language Reform magazine, said annual growth may drop from the expected 10.2 per cent to 8.4 per cent if the yuan is allowed to rise against the dollar and the euro."If imports by the United States, Europe and Japan slow sharply and the renminbi appreciates strongly at the same time, the concentration of these negative factors will lead to a steep correction for our economy," the pair claimed.In June, China looked to diffuse tension between its trading partners, particularly the US, by removing its de-facto peg against the dollar, which many claim has propped up Chinese growth at the expense of the international community.However, there has been little appreciation in the yuan since the decision to lift the peg, which has been in place since the beginning of the financial crisis, with gains standing at 0.6 per cent.For information on making international payments, visit our Smart FX site.