China's Foreign Ministry said on Friday that China has no intention of using currency devaluation to its advantage, responding to remarks made by U.S. President Donald Trump.
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Trump declared China the "grand champions" of currency manipulation in an interview with Reuters on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing's foreign exchange practices.
Foreign Ministry spokesman Geng Shuang made the comments at a daily press briefing in Beijing.
(Reporting by Ben Blanchard; Writing by Philip Wen)