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No one should stimulate exports via competitive currency devaluation: Xi

Editor: Zhang Jianfeng 丨Xinhua

04-01-2016 08:50 BJT

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WASHINGTON, March 31 (Xinhua) -- Chinese President Xi Jinping on Thursday said no country should stimulate exports via competitive devaluation of its currency against the backdrop of sluggish world economic growth and global financial market turmoil.

He made the remarks while meeting with his U.S. counterpart Barack Obama here on the sidelines of the fourth Nuclear Security Summit.

Xi said that the world's two largest economies should strengthen coordination of their macroeconomic policies so as to jointly push for strong, sustainable and balanced growth of the world economy.

"China stands ready to work with the United States for the early completion of our talks on a bilateral investment treaty that will be mutually beneficial," the Chinese president said.

Statistics show that China became the biggest trading partner of the United States last year, with the trade volume at nearly 560 billion U.S. dollars. In 2015, China-U.S. bilateral trade, two-way investment stock and total number of personnel exchanges all hit record high.

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