China said it has no intention of using its currency to gain a trade advantage, ahead of a planned visit to China by U.S. President Donald Trump.

Pan Gongsheng, governor of the People’s Bank of China, made the remarks during a press conference at China’s National People’s Congress in Beijing.

He explained that exchange rates are influenced by complex factors including geopolitics, monetary policy, and financial market conditions. He also noted that global currency volatility has increased recently as risk aversion in financial markets grew following U.S. and Israeli strikes on Iran.

Pan added that the recent appreciation of the Chinese yuan against the U.S. dollar was linked to China’s economic recovery, a weaker dollar index, and seasonal foreign exchange settlements by companies.

China also signaled that it will maintain a moderately accommodative monetary policy this year, using tools such as interest rate adjustments to support economic growth and ease deflationary pressure.

Meanwhile, China’s commerce ministry said it will expand imports in order to promote balanced trade development despite recording a record trade surplus last year.

Analysts say Trump’s upcoming visit could become an important turning point in U.S.–China economic relations.

#China
#USChinaRelations
#ExchangeRate
#TradePolicy
#Trump
#GlobalEconomy

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