Commerce Department: Judging the RMB exchange rate by trade data doesn't make sense

Chinese Commerce Ministry spokesman Yao Jian responded to the renminbi's exchange rate yesterday, with a monthly regular press conference.　　He said there was no justification for the lack of an economic basis to judge the renminbi's exchange rate simply by the existence of China's trade surplus. On the renminbi's exchange rate and its impact on exports, Yao reiterated that because of China's trade surplus with the US, it makes no sense for the US industry and lawmakers to repeatedly judge China's trade interests and the reasonable price of its exchange rate from the trade data of both sides.　　With the development of economic globalization, with the rapid integration of China's economy into the global economy, along with the complementary advantages of China's manufacturing industry and the U.S. service industry, it should be said that economic interests are complementary in both trade and business dealings. In addition, Yao said that in recent years trade between China and the US, the U.S. side of the Chinese exports is actually a big increase. In January-July this year, U.S. exports to China grew by 36%, above China's 15% per cent growth in exports to the United States. According to CCTV