BEIJING (Reuters) – The United States’ labeling of China as a currency manipulator has no grounds and does not accord with facts, China’s foreign exchange regulator said, the official Xinhua News Agency reported on Wednesday.
The U.S. action will seriously worsen the global economic and trade environment and hurt global growth, said Wang Chunying, spokeswoman for the State Administration of Foreign Exchange.
China will keep its foreign exchange management policies stable and consistent, Wang said.
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