You are here

China will not devalue to spur exports, central bank chief says

Section: Daily Dispatches

From Agence France-Press, Paris
via Yahoo News
Sunday, 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.

... Dispatch continues below ...



ADVERTISEMENT

Buy, Sell, or Store Precious Metals with Money Metals

Money Metals Exchange, a national bullion dealer recently voted "Best in the USA" by a worldwide ratings group --

https://www.moneymetals.com/news/2015/02/03/worldwide-ratings-organizati...

-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.

Shop online with Money Metals Exchange here --

https://www.moneymetals.com/buy

-- or by calling 1-800-800-1865.

Meanwhile, the Money Metals Depository --

https://www.moneymetals.com/depository



U.S. President Donald Trump has long accused Beijing of manipulating its currency to gain a trade advantage and Washington has been seeking assurances on the exchange rate in the ongoing trade talks between the two nations.

"Let me stress here that we will never use the exchange rate for the purpose of competition, nor will we use the exchange rate to increase China's exports or as a tool in handling trade frictions," Yi said. "We have committed not to do this." ...

... For the remainder of the report:

https://www.yahoo.com/news/china-not-devalue-renminbi-spur-exports-centr...

... For the remainder of the report:


* * *

Join GATA here:

Mining Investment Asia
Marina Bay Sands Conference and Exhibition Center
Singapore
Tuesday-Thursday, March 26-28

https://www.mininginvestmentasia.com/

Mines and Money Asia
Hong Kong Conference and Exhibition Center
Wan Chai, Hong Kong
Tuesday-Thursday, April 2-4

https://asia.minesandmoney.com/

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16