March 31, 2017 / 1:32 AM / in 2 years

China says has no policy to devalue currency as Xi prepares to meet Trump

BEIJING (Reuters) - China does not have any policy to devalue its currency to promote exports, Vice Foreign Minister Zheng Zeguang said on Friday, ahead of President Xi Jinping’s first meeting with U.S. President Donald Trump amid lingering tensions over trade.

In a briefing, he said China does not seek a trade surplus with the United States.

This is Xi’s first meeting with Trump, who assumed office Jan. 20, and comes as the two sides face pressing issues, ranging from North Korea and the South China Sea to trade disputes.

Reporting by Ben Blanchard; Writing by Josephine Mason; Editing by Shri Navaratnam

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