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      China is ‘against competitive depreciation, currency war ‘– China’s President Xi

      FXStreet (Mumbai) - Addressing a dozen of US business leaders in his visit to the US on Wednesday, China’s President Xi Jinping sounded quite optimistic on the China’s economic prospects.

      Key Quotes:

      China economy still in reasonable range

      Economy faces certain downside pressure

      No basis for continuous yuan depreciation

      Depreciate yuan to boost exports

      Against competitive depreciation, currency war

      Govt measures on stock mkt prevented risks

      Govt measure on stock mkt contains panic sentiment

      Govt to continue with reforms/opening up

      China's Central Bank sets Yuan midpoint at 6.3773 versus 6.3721 Tuesday

      On Wednesday, the Chinese central bank, PBOC, sets US dollar/Yuan parity at 6.3773 versus 6.3721 on Tuesday close.
      Mehr darüber lesen Previous

      China Caixin Manufacturing PMI below forecasts (47.5) in September: Actual (47)

      China Caixin Manufacturing PMI below forecasts (47.5) in September: Actual (47)
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