BEIJING: China must keep the yuan basically stable as part of a policy kit to support the country's international trade, Vice Commerce Minister Zhong Shan wrote in an official magazine.
The yuan should also be used to settle more trade, with the government working to build up the currency's international profile, Zhong wrote in the latest issue of the ruling Communist Party's Chinese-language magazine Seeking Truth (Qiushi).
Along with stabilising the yuan's exchange rate, China needs to maintain consistency in its tax rebate policies for exporters, Zhong said.
His comments were in line with the commerce ministry's long-standing opposition to any major fluctuations in the yuan's value.
Chinese exports rose 38.1% in July from a year earlier, while imports were up 22.7%, putting the country's trade surplus at an 18-month high.
The yuan has appreciated less than 0.4% against the dollar since it was lifted from a nearly two-year peg on June 19. ' Reuters
The yuan should also be used to settle more trade, with the government working to build up the currency's international profile, Zhong wrote in the latest issue of the ruling Communist Party's Chinese-language magazine Seeking Truth (Qiushi).
Along with stabilising the yuan's exchange rate, China needs to maintain consistency in its tax rebate policies for exporters, Zhong said.
His comments were in line with the commerce ministry's long-standing opposition to any major fluctuations in the yuan's value.
Chinese exports rose 38.1% in July from a year earlier, while imports were up 22.7%, putting the country's trade surplus at an 18-month high.
The yuan has appreciated less than 0.4% against the dollar since it was lifted from a nearly two-year peg on June 19. ' Reuters
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