China Rejects G20 Trade Imbalance Measures, Rules Out Yuan Devaluation

Beijing has pushed back against G20 efforts to correct global trade imbalances, stating it does not aim for a trade surplus and will not devalue the yuan. Chinese officials emphasized that current exchange rates are market-driven and adequate.

3 Sept, 07:11 — 3 Sept, 07:11

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SCMPMostly Factual2h ago

China rejects G20 trade-imbalance claims, says no need to devalue yuan

China has fired back at critics of its trade imbalances at a Group of 20 gathering, with the central bank firmly denying that Beijing deliberately pursues trade surpluses, while also vowing that it would not weaponise the yuan to boost exports. In the face of concerns over export reliance, People’s Bank of China governor Pan Gongsheng said the country remained committed to expanding domestic demand, state broadcaster CCTV reported on Wednesday. “Addressing global imbalances requires all...

By Xinyi Wu

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First report: SCMP · 3 Sept, 07:11|Full coverage: 2 · 8m|Window: 8m

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SCMP3 Sept, 07:11First to report

China rejects G20 trade-imbalance claims, says no need to devalue yuan

seeking-alpha3 Sept, 07:19Latest update

China Rejects G20 Trade Imbalance Measures, Rules Out Yuan Devaluation

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China rejects G20 trade-imbalance claims, says no need to devalue yuan

Coverage Timeline

China rejects G20 trade-imbalance claims, says no need to devalue yuan

China says it does not seek trade surplus as G20 targets global imbalances

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