Analysts: Value of currency not manipulated

IMF report shows a pattern of stability that undercuts US charge against China

China's stance that it did not manipulate its currency is based on solid ground, and the country's firm resolve to refrain from competitive devaluation and to promote the coordination of international currency policy has contributed to global financial stability, officials and analysts said.

The latest report by the International Monetary Fund said that in 2018 the exchange rate of the Chinese yuan had been broadly in line with sound economic fundamentals for the medium term and that Chinese monetary authorities had barely intervened in the foreign exchange market.