The US Treasury again declined to label China a currency manipulator, but reiterated its concerns about recent weakness of the renminbi as the two countries spar over trade relations.
In its twice-annual report on foreign exchange practices, the Treasury did not accuse any leading US trade partners of being currency manipulators, while saying it would continue to monitor Beijing’s foreign exchange policies.
The department said the recent depreciation of the renminbi could boost China’s trade surplus with the US, but it acknowledged that direct intervention by the People’s Bank of China this year had been “limited”.
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