SCMP China· Raymond Ma,Neil Denslow·· 2 h agoSelectedAI score65
China's central bank rejects yuan undervaluation claims in policy paper
China rejects yuan complaints, ‘golden week’ travel, Canton Fair
AI summary
The People's Bank of China issued a policy paper rejecting claims that the yuan is undervalued, calling them a key European argument in trade negotiations. The statement, printed in both Chinese and English, says China has no need or intent to gain competitive advantages through currency devaluation and has never resorted to competitive devaluation.
中国央行发布政策文件驳斥人民币被低估说法
中国人民银行发布政策文件，驳斥有关人民币被低估的说法，将其称为贸易谈判中的关键欧洲论点。声明中英文双语刊发，表示中国无需也不会通过货币贬值获取竞争优势，从未采取竞争性贬值。
Why it matters
PBOC's explicit denial of competitive devaluation targets a key European trade argument ahead of potential tariff escalation, creating diplomatic groundwork for upcoming negotiations.
Source: SCMP China · scmp.com