China’s MOFCOM: There is no necessary link between a depreciating yuan and exports

China’s commerce ministry (MOFCOM) spokesman Shen Danyang was out on the wires last hour, via MNI, expressing his take on the TTP agreement and exchange rate level.

Key Headlines on TPP:

China will continue to open its markets irrespective of developments with the Trans-Pacific Partnership

China will continue to closely cooperate with WTO members to strengthen multilateral trade systems to create a more free environment for international trade

Key Quotes on the Yuan:

"There is no necessary link between a depreciating yuan and exports. As the yuan depreciates there are advantages and disadvantages for exports"