{
  "id": 12857289,
  "title": "China has no need or intention to weaken yuan for trade edge, central bank says",
  "url": "https://urgent.news/2026/10/08/china-has-no-need-or-intention-to-weaken-yuan-for-trade-edge-central",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T11:36:24.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/china-has-no-need-or-intention-to-weakenyuan-for-trade-edge-central-bank-says-4938641"
  },
  "original_language": "en",
  "account": "China's central bank has firmly stated that it has no intention of using currency depreciation as a means to gain a competitive edge in trade, dismissing accusations from Western trading partners, including the EU. This stance counters claims that the Chinese yuan is deliberately kept undervalued to make exports cheaper and imports more expensive.\n\nThe central bank's comments come as the EU's trade chief, Maros Sefcovic, is in Beijing to address the trade deficit between the EU and China. Throughout this year, the yuan has appreciated by around 4% against the US dollar, despite a widening gap in yields between US and Chinese government bonds.\n\nIn a June speech, European Central Bank President Christine Lagarde called for international leaders to discuss the issue of the Chinese currency being undervalued as part of broader imbalances that threaten the global economy. The EU has expressed concern over its trade deficit with China, which rose to €360.6 billion in 2025, a 15% increase from the previous year.\n\nThe People's Bank of China (PBOC) emphasized that the market should play a crucial role in determining exchange rates, and it does not set specific exchange rate targets or interfere with long-term trends. The central bank also criticized the notion that weakening other countries' exchange rates is a viable solution to China's industrial competitiveness challenges, challenges that they attribute to domestic factors such as declining competitiveness, fiscal and financial discipline, and structural issues. Starting in 2027, China plans to share additional foreign exchange-related data with the International Monetary Fund.",
  "summary": null,
  "key_points": [
    "China's central bank denies using yuan depreciation to gain trade advantage.",
    "EU trade chief Maros Sefcovic in Beijing to discuss trade deficit.",
    "PBOC emphasizes market role in exchange rates, rejects external interference."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "China: PBoC rules out competitive Yuan devaluation to boost trade",
        "url": "https://urgent.news/2026/10/08/china-pboc-rules-out-competitive-yuan-devaluation-to-boost-trade",
        "published": "2026-10-08T10:21:14.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "China has no need or intention to weaken yuan for trade edge, central bank says",
        "url": "https://urgent.news/2026/10/08/china-has-no-need-or-intention-to-weaken-yuan-for-trade-edge-central-12859810",
        "published": "2026-10-08T11:57:01.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}