Reuters logo
China, U.S. to avoid disorderly, competitive currency depreciation
July 10, 2014 / 12:45 PM / 3 years ago

China, U.S. to avoid disorderly, competitive currency depreciation

BEIJING, July 10 (Reuters) - China and the United States have agreed to avoid sustained, disorderly and competitive currency depreciation, the Chinese government said on Thursday after annual high-level talks between the two countries.

China also agreed to increase currency flexibility to reflect economic fundamentals, the government said in a statement.

It will continue to push forward foreign exchange rate reform, interest rate reform, and reduce currency intervention when conditions permit.

Beijing will also expand domestic demand as the main engine of the economy, the government added, and hasten pricing reforms in its oil, electricity and natural gas markets.

The government will also widen reforms of state-owned firms and set up communication with the U.S. on corporate governance. (Reporting By Kevin Yao; Writing By Megha Rajagopalan; Editing by Clarence Fernandez)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below