China’s Foreign Min: China won't resort to Yuan depreciation for competitive purposes in trade

The Chinese media came out with a story, citing the recent comments from a spokesman for China's Foreign Ministry following the reports that the US is pressing China to keep the Yuan stable as part of a trade agreement.

The Chinese Foreign Ministry spokesman noted that the country will not use the Yuan’s exchange rate as a bargaining chip to resolve trade disputes with the US.

Additional Comments:

China won't resort to currency depreciation for competitive purposes in trade.

Hopes the US can respect market rules and not politicize currency issues.