China’s ruling Communist Party paper, People’s Daily, reports the latest comments by the Chinese Banking and Insurance Regulator Head Guo Shuqing on the US-China trade spat.
Key Headlines:
Impact of additional US tariffs on the Chinese economy will be very limited.
Fluctuations in the yuan exchange rate were normal in the short term.
Over a longer horizon, the currency would not continue to lose value given China’s economic fundamentals.
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