Bloomberg News

Recent Yuan Depreciation Is a ‘Good Thing,’ China’s Chong Says

December 06, 2011

Dec. 7 (Bloomberg) -- The recent decline in the yuan’s exchange rate is a “good thing” and shows that China is not manipulating its currency, Chong Quan, the country’s deputy international trade representative said at a briefing in Beijing.

The exchange rate is responding to market demand and the yuan could rise or fall from its current level, he said.

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