China has no need or intention to weaken yuan for trade edge, central bank says
The central bank said the yuan is market-driven and will not be used to offset trade tensions, while China also plans new FX data reporting to the IMF.
- On Thursday, the PBOC published a position paper rejecting allegations that China deliberately devalues its currency to gain trade advantages, asserting the nation has no need for such practices.
- European Union trade chief Maros Sefcovic is in Beijing for talks as the bloc seeks to address a widening trade imbalance with China that reached €360.6 billion in 2025, up 15 percent from the previous year.
- According to the Bank, exchange rates are market-determined without preset targets, and the yuan has strengthened about 4 percent this year despite widening bond yield gaps between U.S. and Chinese government bonds.
- Attributing domestic industrial competitiveness declines to foreign exchange rates 'amounts to evading and shirking one's own responsibility for making necessary adjustments,' the PBOC claimed, citing inherent flaws in the Global monetary system.
- Starting in 2027, the Bank will report additional foreign exchange-related data to the International Monetary Fund, signaling increased transparency on currency practices amid ongoing trade tensions.
14 Articles
14 Articles
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 People’s Bank of China has stepped out of criticism of the Asian giant’s stance on the yuan exchange rate and has assured that the country “does not have any need or intention to obtain competitive commercial advantages through the devaluation of its currency.” In an article published this Thursday in the [...] Entry China ensures that it does not try to obtain commercial advantages through the devaluation of the yuan appears first in Forbes…
“China has no need or intention to gain competitive advantages by devaluation of its currency,” he said at China’s People’s Bank
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