China’s central bank has for the first time disclosed details of the China-US trade talks involving the yuan exchange rate. Photo: Xinhua

China has made a clear effort to keep yuan exchange rate stable, says central bank

  • People’s Bank of China governor Yi Gang says Beijing will not devalue yuan to boost exports or ease trade tensions amid the US-China trade war
  • China’s foreign exchange intervention has long been a political target in the United States and Donald Trump vowed to declare China a currency manipulator in 2016
Topic |   Two Sessions 2019 (Lianghui)

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China’s central bank has for the first time disclosed details of the China-US trade talks involving the yuan exchange rate. Photo: Xinhua
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The Chinese government said it would try to achieve an economic growth rate between 6.0 to 6.5 per cent in 2019, a moderate slowdown from previous years, but nevertheless a much faster rate compared with other major economies. Photo: Xinhua

China’s GDP growth could be half of reported number, says US economist at prominent Chinese university

  • US economist Michael Pettis of Peking University says China gross domestic product is overestimated as bad debt is not written down
  • Best way to solve problem would be to transfer wealth from state sector to consumers, Pettis said
Topic |   China economy

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The Chinese government said it would try to achieve an economic growth rate between 6.0 to 6.5 per cent in 2019, a moderate slowdown from previous years, but nevertheless a much faster rate compared with other major economies. Photo: Xinhua
READ FULL ARTICLE