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.

To contact the editor responsible for this story: Nerys Avery at navery2@bloomberg.net


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