✉news BusinessBanking first seen 1 d ago, last 9 h ago, peak #3
China's Central Bank Says Industry, Not Yuan, Drives Exports
Original: What Drives China’s Exports? Central Bank Points to Industry, Not a Weaker Yuan | China Responds
China's central bank has rejected suggestions that exports are powered by a weak currency, arguing instead that the country's export strength rests on its industrial capacity and manufacturing competitiveness. The remarks, aired in a program titled 'China Responds,' come amid ongoing trade tensions and Western criticism that Beijing gains an unfair advantage by keeping the yuan undervalued. Officials are pushing back on that narrative, emphasizing supply chains, scale and upgraded industry as the real drivers of China's trade surplus.
Why now: Trade tensions and accusations of currency manipulation keep Chinese export policy in the spotlight.
People's Bank of ChinaChinayuan
Rank over time, top of the chart is #1. 15 snapshots from 1 d ago to 9 h ago.
Evidence
- What Drives China’s Exports? Central Bank Points to Industry, Not a Weaker Yuan | China Responds · iChongqing
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