[Pan Gongsheng: China has no need or intention to gain trade competitive advantage through currency depreciation] On March 6, at the economic-themed press conference of the Fourth Session of the 14th National People's Congress, Pan Gongsheng, Governor of the People's Bank of China, stated that since the beginning of this year, the RMB exchange rate against the US dollar has appreciated, which is related to the continued improvement of China's economy, the weakening of the US dollar index, and seasonal corporate foreign exchange settlements. Currently, the bilateral exchange rate level of the RMB against the US dollar is within the median range of recent years. China has no need or intention to gain trade competitive advantage through currency depreciation.