@chineseembassyinnepal: China runs a managed floating exchange rate regime based on market supply and demand and adjusted with reference to a basket of currencies, with the market playing a decisive role, the People's Bank of China (#PBOC) said Thursday. Since 2010, the #yuan has seen multiple appreciation and depreciation cycles, with more pronounced two-way fluctuation and greater flexibility. China has never engaged in competitive devaluation, the central bank said, adding that global economic imbalances require joint efforts and that blaming others' exchange rates for domestic problems is a way of evading one's own adjustment responsibilities.

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Friday 09 October 2026 04:49:45 GMT