China Has No Need or Intention to Weaken Yuan for Trade Edge, Central Bank Says
4 Articles
4 Articles
China has no need or intention to weaken yuan for trade edge, central bank says
BEIJING — China has no need or intention to use yuan depreciation for a trade competitive advantage and has never engaged in competitive currency devaluation, the central bank said, rejecting criticisms from western trading partners including the EU. The central bank remarks push back against claims that China keeps its currency undervalued to make its exports cheaper and imported goods pricier, and were issued as the EU's trade chief Maros Sefc…
The People's Bank of China issued a statement in which it categorically rejected allegations of artificial depreciation of the national currency in order to gain competitive advantage in international trade. Beijing does not use the devaluation of the renminbi for trade advantages, and considers the claims of undervaluation of the Chinese currency to be unfounded, and transmits to RIA News. A published document by the regulator emphasizes that t…
The Chinese People's Bank has confirmed that the country's government does not need or intend to use Yuan depreciation to achieve a competitive advantage in trade, to the detriment of a competitive devaluation policy. Today, Thursday, the Central Bank said that the market plays a crucial role in determining the exchange rate of the Yuan, adding that it does not predetermine exchange-rate targets and does not interfere with currency trends [...] …
The People ' s Bank of China (the country ' s centrifugal bank) stated that Beijing did not use the devaluation of the renminbi to obtain trade advantages, and rejected the claim that ... 08.10.2026, PRIM
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
