China does not plan to devalue the yuan and discuss it within the G20 meeting - the Ministry of Finance

Almaty. February 25. Silkroadnews - China has no plans to devalue the yuan, and such a measure is not on the agenda for the financial G20 meeting scheduled for February 26-27, 2016, in Shanghai, TASS agency quoted Finance Minister Lou Jiwei saying.
“There isn’t such an item on the agenda,” – Lou Jiwei said adding that a proposal to devalue the yuan is only “media hype”.
The Ministry of Finance of China noted that the G20 should not discuss a specific country’s currency policy at its gathering. Participants “would only touch on principles, not specific national policies in the finance field”.
The agency reminds, the Chinese currency’s decline against the dollar began after August 11, 2015, when the Chinese central bank announced the launch of the exchange rate reform through the rise of market mechanisms. Within three days thereafter a 4.6 percent drop in the yuan against the dollar was observed with growth up to 6.40 yuan per $1. Shortly after, the Chinese currency strengthened and on November 2, 2015, reached a three-year maximum at 6.3154 for $1, yet then its rate started to fall again: on January 7, 2016, for the first time since March 2011, RMB exchange rate dropped to the level of 6.5646 for $1.
On Thursday the Bank of China set the yuan’s official exchange rate against the dollar at 6.5318.