Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
ByteDance Seeks to Grow Online Education Business with New Recruitment Drive
LATEST
Tencent Invests in Tim Hortons as Canadian Coffee Chain Embraces Digitalization
ByteDance Seeks to Grow Online Education Business with New Recruitment Drive
Pinduoduo Faces Work Culture Questions After Staff Deaths
Investment Gains Boost Tesla Challenger Li Auto to First Profit
Geely-Backed Smart Vehicle Tech Startup Eyes Global Expansion With New Funding
Foxconn Deepens Push Into Electric Car Manufacturing with Fisker Partnership
Flying Carmaker EHang Completes Cold-Weather Test Flights in Beijing
China Outspends Rest of the World on 5G Infrastructure By 2-to-1
Chinese Ride-Sharing Giant Didi Plans Entry Into Europe
Video Streamer Bilibili’s Revenue Nearly Doubles, Shares Rise
Forbes Names China’s Top 100 Businesswomen of 2021 With 40 New Entries
China’s Electric Vehicle Sales Expected to Grow 51% This Year, Research Firm Says
Chip Startup Horizon Robotics Joins Hands with Automaker to Develop Smart Cars
Chinese Copycats Rush in as Clubhouse is Blocked in China
Honor of Kings Retains Top Spot as World’s Highest-Earning Mobile Game
Trending in China: Employee Punished After Gaining Beijing Residency Rights Then Quitting Firm
Industrial Software Startup Eyes Southeast Asia With Latest Funding
Alibaba-Backed Lender MYBank is One of First Privately Owned Banks to Join Digital Yuan Pilot
China Still Far From Semiconductor Self-Sufficiency, Report Says
Tencent-Backed Esports Company VSPN Weighing U.S. IPO

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