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China won't devalue yuan to boost exports


11-10-2016 14:55 BJT

Chinese trade continues to recover despite increasing headwinds involving global demand. That was the words Thursday from Commerce Ministry spokesman Shen Danyang. 

Shen said China won't devalue the yuan to try and boost exports. Shen also said no major changes are expected between China and the US concerning economic relations and common interests because of Donald Trump's election win.

However, Shen said China was disappointed that the European Union hasn't completely recognised its market economy status. The European Commission on Wednesday proposed a new way to assess whether Chinese manufacturers are exporting products at unfairly low prices.

China said it interpreted the proposal as cancelling China's "non-market economy status" but was disappointed by a newly introduced "significant distortions" clause.

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