Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
WeWork Putting the Brakes on China Push: Report
Tencent-Backed E-Book Platform Partners With Disney for ‘Star Wars’ Project
Tesla’s China Plant Is Hooked Up to State Grid Power Supply
LATEST
Tencent-Backed E-Book Platform Partners With Disney for ‘Star Wars’ Project
iQiyi Looks to AI to Force-Feed Ads to Viewers
Popular Walking App Accused of Financial Fraud
WeWork Putting the Brakes on China Push: Report
‘No New Progress’ on Zotye Joint-Venture With Ford
Qutoutiao’s Online Literature Unit Gets $100 Million Windfall
NBA’s China Crisis Has Already Caused ‘Substantial’ Losses, Commissioner Says
Northern China Aims to Curb Toxic Air Pollution by 4% This Winter
China’s Economic Growth Dips to New Nearly Three-Decade Low
Tesla’s China Plant Is Hooked Up to State Grid Power Supply
Didi Pushes Further Into Latin America With Eye on Costa Rica
Homeowners Demand Refunds After Developer Cuts Prices
Controversial WeChat Public Account Operator Eyes High-Tech Board IPO
Burgeoning Online Marketplace in Crisis After Luring New Shoppers With Merchants’ Money
Huawei Posts Strong Revenue Growth Despite U.S. Export Ban
Ant Financial Seeks Loan of as Much as $3.5 Billion at Lower Rate
China Freezes Some Social Media, Mobile Payment Accounts in Myanmar Cross-Border Fraud Crackdown
Popular Translation App Youdao Downsizes New York IPO
Popular Alibaba-Backed Social E-Commerce App Returns After Months-Long Absence
Cheap-Phone Maker Realme Eyes Upscale Turn With Pricey New Handset

By Han Wei / Feb 21, 2019 07:38 AM / Economy

Photo: VCG

Photo: VCG

China will not use the yuan’s exchange rate as a bargaining chip to resolve trade disputes with the United States, a spokesman of the Ministry of Foreign Affairs said Wednesday.

China won’t resort to currency depreciation for competitive purposes in trade and hopes the U.S. can respect market rules and not politicize currency issues, Geng Shuang, a foreign ministry spokesman, said at a routine press briefing.

Geng’s comments followed reports that the U.S. is pressing China to keep the yuan stable as part of an agreement intended to end the countries’ trade war.

The U.S. is seeking a pledge from China that it will not devalue the yuan to counter American tariffs, Bloomberg reported. Officials from the two countries are discussing how to address currency policy in a memorandum of understanding that would form the basis of a U.S.-China trade deal, Bloomberg reported.

Chinese Vice Premier Liu He will visit Washington this week for another round of trade negotiations, his second trip in three weeks, as the two countries race the clock to strike a deal to avert an escalation in the trade war before a March 1 deadline. The talks follow a round of negotiations that ended in Beijing last week without a deal but with signs of progress.

Support independent journalism from China. Subscribe to Caixin Global starting at $0.99.

Share this article
Open WeChat and scan the QR code