The Yuan Has Been Trading At A Low Point In The Past Five Years.

Zhu Guangyao, Vice Minister of finance of China, told the NBC financial channel CNBC that the renminbi is unlikely to depreciate because China's economic fundamentals continued to grow strongly in the first half of this year, up 6.7% over the same period last year.

Zhu Guangyao said that in the long term, the fundamentals of the economy are strong, and we believe that the renminbi will remain stable.

There is no reason why the renminbi depreciated.

We will continue to reform the RMB.

To reflect the market situation.

Based on concerns about the trend of capital outflow in China's economy, the yuan has been trading at a low point in the past five years.

Investors are also showing concern about the high level of economic debt.

China has suffered a capital flight of nearly US $700 billion in 2015.

The massive outflow of funds at the end of 2015 led to fears that China's foreign exchange reserves would not be enough to keep the RMB exchange rate stable for a long time.

However, Zhu Guangyao claimed that China's development resistance in the world's second largest economy came from external events. For example, Britain's influence on domestic factors, such as the rise in China's debt level, has been affected by Europe's departure from Europe.

At present, the Chinese government has been trying to solve this problem.

Zhu Guangyao said we are implementing reforms, especially structural reforms, and will reduce them.

As a focal area of reform.

Republican presidential candidate Donald Trump published his anti China speech in his campaign, describing the East Asian giant as a "currency manipulator" and a "swindler" in Global trade.

In response, Zhu Guangyao said that China has no specific comment on "specific candidates", but believes that economic relations are the common interests of the two countries.

Zhu Guangyao wished this Saturday (July 23rd) a successful meeting of G20 finance ministers and central bank governors held in Chengdu, China.

"We hope that our discussions will include strong monetary and structural reform policies, with a view to promoting strong, sustainable and balanced growth in the global economy," he said.