China’s central bank sets out its exchange-rate policy position

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  China’s central bank published a policy statement on the renminbi exchange rate on October 8, setting out its position systematically for the first time.

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  The statement says China operates a managed floating exchange-rate system based on market supply and demand, with reference to a basket of currencies.

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  It says China has no need or intention to use a weaker currency to gain trade advantages and does not pursue competitive currency devaluation.

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  The central bank argues that exchange rates reflect multiple factors and that global economic imbalances require action by all countries.

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  The statement comes amid international debate about the renminbi’s value and China’s trade surplus.

Who

The People’s Bank of China.

What

It published a policy statement setting out its position on the renminbi exchange rate for the first time in a systematic way.

When

October 8; the article was published on October 13, 2026.

Where

China.

Why

The statement addresses debate over whether the renminbi is undervalued and whether China’s exchange rate contributes to global economic imbalances.

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