mo4ch:>China won’t use yuan exchange rate as a trade-war tool – central bank chief | Mo4ch News

China’s national currency will never be used to boost competition or as a means of handling the ongoing trade row, its central bank governor has said. Currency issues have been one of the cornerstones of US-China trade talks.“China will not use the yuan exchange rate as a tool to boost exports or ease trade frictions,” Yi Gang said on the sidelines of the country’s annual parliamentary meeting, as quoted by Chinese media on Sunday.The head of China’s central bank was part of Beijing’s negotiating delegation in the talks aimed at ending the conflict between the world’s two largest economies, which has already resulted in tariffs on billions of dollars’ worth of goods. He said that the two sides reached consensus on key fronts, adding that both Beijing and Washington pledged to respect the autonomy of each other’s monetary policy and agreed to refrain from competitive devaluation of their currencies.Also on rt.comBeijing calls on Chinese firms not to be ‘silent lambs,’ vows protection a…