China denies yuan devaluation for trade benefits
The People's Bank of China has confirmed that China does not intend to weaken the yuan to gain a trade advantage, and that it does not set target levels for the exchange rate nor intervene in the currency's long-term trends. It clarified that the market primarily determines the yuan's value, and that exchange rate policies closely follow global market conditions. Additionally, starting from 2027, China will begin providing supplementary foreign exchange data to the International Monetary Fund to enhance transparency.
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