Exchange Rate
The gist
China's central bank published a paper defending its renminbi exchange rate policy on Oct 8, 2026.
The stance drew a rebuttal and lands amid EU pressure over trade imbalances.
How it unfolded
- Jul 2026French President Emmanuel Macron publicly called for dialogue with China on exchange rates and financial market opening.
- Sep 2026European Commission President Ursula von der Leyen warned the EU's trade imbalance with China had reached a critical point.
- Oct 8, 2026The People's Bank of China released a policy statement on the renminbi exchange rate, addressing valuation debates and trade imbalances.