epa07865161 Governor of People's Bank of China (PBOC) Yi Gang speaks at a press conference on China's economic development ahead of the 70th anniversary of its founding in Beijing, China, 24 September 2019. China will celebrate the 70th anniversary of the founding of the People's Republic of China (PRC) on 01 October 2019. EPA-EFE/HOW HWEE YOUNG

China’s yuan exchange rate ‘appropriate’ after recent weakening, central bank chief says

  • Depreciation ‘driven and determined by market forces and reflects shifts in market dynamics’, says People’s Bank of China governor Yi Gang
  • He was speaking at the International Monetary Fund’s annual meeting in Washington with currecny set to play a key role in any deal with the United States
Topic |   China economy

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epa07865161 Governor of People's Bank of China (PBOC) Yi Gang speaks at a press conference on China's economic development ahead of the 70th anniversary of its founding in Beijing, China, 24 September 2019. China will celebrate the 70th anniversary of the founding of the People's Republic of China (PRC) on 01 October 2019. EPA-EFE/HOW HWEE YOUNG
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Negotiations in Washington last week between China and the United States appeared to have made progress towards a “phase one” trade deal. Photo: Reuters

China-US currency deal would not be a new Plaza Accord of one-sided exchange rate movement, analysts say

  • Currency provisions are expected to be included in any interim deal between China and America following progress made during talks last week in Washington
  • The 1985 Plaza Accord saw Japan, France, Germany, Britain and the US push down the value of the US dollar, resulting in the Japanese yen doubling in value
Topic |   US-China trade war

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Negotiations in Washington last week between China and the United States appeared to have made progress towards a “phase one” trade deal. Photo: Reuters
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