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US labeling China a currency manipulator is groundless, China FX regulator

NEWS
By Reuters | August 7th 2019
US Dollar and China Yuan notes are seen in this picture illustration June 2, 2017 [Photo, Courtesy]

The United States’ labeling of China as a currency manipulator has no grounds and does not accord with facts, China’s foreign exchange regulator said, the official Xinhua News Agency reported on Wednesday.

The US action will seriously worsen the global economic and trade environment and hurt global growth, said Wang Chunying, spokeswoman for the State Administration of Foreign Exchange.

China will keep its foreign exchange management policies stable and consistent, Wang said.

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