RMB's value determined by market forces

Beijing will not sacrifice forex reserves to defend its currency, analysts say

China would rather rely on market-oriented forces to determine the renminbi's value than defend its currency by dipping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said.

The United States Treasury announced on Wednesday that it could not label China as a "currency manipulator" after Washington monitored the recent performance of the RMB.