Vice Governor of the People's Bank of China Zou Lan: China does not seek to gain international competitive advantage through exchange rate depreciation

According to a report by Golden Finance, Vice Governor of the People's Bank of China, Zou Lan, stated that China does not seek to gain international competitive advantage through exchange rate depreciation. The People's Bank of China's exchange rate policy stance is clear and consistent, and it will continue to adhere to the decisive role of the market in the formation of exchange rates, maintain exchange rate flexibility, strengthen expectation guidance, prevent exchange rate overshoot risks, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.