China will not seek competitive advantages in global trade through currency devaluation, People's Bank of China Governor Pan Gongsheng affirmed during a press conference on March 6, 2026. The statement, made at the sidelines of the fourth session of the 14th National People's Congress, underscores Beijing's commitment to maintaining stable economic policies amid evolving global market conditions.
Governor Pan emphasized that China's economic strategy prioritizes sustainable growth and market-driven exchange rates rather than short-term trade benefits. "Our focus remains on fostering a resilient financial system and supporting genuine international cooperation," he stated, addressing concerns about recent fluctuations in the yuan's value.
Analysts suggest this declaration aims to reassure trading partners and investors as China navigates post-pandemic recovery and shifting supply chain dynamics. The yuan has remained relatively stable against major currencies this year, reflecting the central bank's measured approach to monetary policy.
