Foreign Ministry: China would never respond to trade disputes by manipulating currency

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China, as a responsible nation, would never resort to currency manipulation in response to trade wars and other outside challenges, the Chinese Foreign Ministry spokesman, Geng Shuang, said on Tuesday, following the United States’ decision to remove Beijing from its list of currency manipulators, VOİCEPRESS reports citing Sputnik.

“In reality, China has never been a currency manipulator, and the latest conclusion of the US side corresponds to facts and the international community’s consensus,” Geng said.

The spokesman added that when it came to responding to trade conflicts and other external shocks, “China is a responsible major nation, which is not engaged in a competitive currency devaluation and will never use currency as a tool.”

He also said that China intended to continue reforming its currency market, perfect its currency system and maintain a stable renminbi exchange rate.

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