Lu Lei, deputy governor of the People's Bank of China, said at the press conference of the State Information Office on September 10 that China has no need or intention to gain a competitive advantage in trade through depreciation of the exchange rate. With the transformation and upgrading of the export structure, the bargaining power and exchange rate risk management capabilities of enterprises have continued to increase, and the sensitivity of Chinese trade to exchange rates has declined drastically. At the same time, foreign trade enterprises are also making more use of exchange rate hedging tools. The share of RMB in trade settlement continues to rise, further reducing the sensitivity of trade to exchange rates.

Lu Lei, deputy governor of the People's Bank of China, said at the press conference of the State Information Office on September 10 that China has no need or intention to gain a competitive advantage in trade through depreciation of the exchange rate. With the transformation and upgrading of the export structure, the bargaining power and exchange rate risk management capabilities of enterprises have continued to increase, and the sensitivity of Chinese trade to exchange rates has declined drastically. At the same time, foreign trade enterprises are also making more use of exchange rate hedging tools. The share of RMB in trade settlement continues to rise, further reducing the sensitivity of trade to exchange rates.