China Rejects Claims the Yuan Is Undervalued
Bloomberg 2026-10-09 05:52:08
Context: China's central bank has pushed back against allegations that the yuan is undervalued, a claim made by European Union officials as a factor contributing to trade imbalances. This rejection comes as trade talks between China and the EU commenced. The People's Bank of China argues that adjusting exchange rates will not address deeper structural issues in the global economy.
Key Facts
- China's central bank rejected claims that the yuan is undervalued during trade talks with the European Union.
- The People's Bank of China stated that exchange-rate adjustments won't resolve structural imbalances in the global economy.
- The EU has blamed trade imbalances, in part, on the exchange rate of the yuan.