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Commerce Minister: Yuan's small depreciation normal, given strong USD

(Xinhua)
Updated: 2008-12-04 23:00

BEIJING -- The recent depreciation of Chinese currency versus the US dollar was normal and China won't rely on a weaker yuan to boost exports, Chinese Commerce Minister Chen Deming said on Thursday.

Related readings:  Economists: Yuan depreciation normal, but not long-term trend

"The recent small fluctuation of the yuan against the dollar was completely normal. I'd call it the dollar strengthening, rather than the yuan depreciating," Chen told a press conference of the fifth China-US strategic economic dialogue (SED).