People’s Bank of China governor Yi Gang says China’s efforts and achievements in maintaining the basic stability of the renminbi exchange rate at a reasonable and balanced level are recognised by the whole world. – EPA pic, March 9, 2019.
CHINA has gone to great lengths to support its currency and would not devalue the renminbi to spur exports or combat trade frictions, the governor of the central bank said today. Speaking on the sidelines of China’s annual parliamentary session, Yi Gang said Washington and Beijing had discussed exchange rates in recent trade talks and reached a consensus on many “crucial” issues.
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