B · Normal
[Central Bank Lu Lei: China has no need or intention to gain a competitive advantage in trade through exchange rate depreciation] On September 10, at a press conference of the State Council Information Office, Deputy Governor of the People's Bank of China Lu Lei stated that China implements a managed floating exchange rate system, adheres to the market's decisive role in the formation of exchange rates, and prevents the market herding effect and the self-reinforcement of irrational expectations. China has no need or intention to gain a competitive advantage in trade through exchange rate depreciation.
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