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China fires back at currency-depreciation claims, denies using weak yuan to boost exports (www.scmp.com)

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Beijing has stressed that it does not intend to rely on a weaker yuan for trade gains, amid a recent rally in the currency and mounting pressure from trade partners to allow it to strengthen. “China has neither the need nor the intention to gain competitive advantages in trade through currency depreciation,” said Pan Gongsheng, governor of the central bank, at a press conference of the country’s top economic officials on Friday. The comments came ahead of a new round of trade talks between China...

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