EU companies say ‘undervalued’ renminbi aiding China’s exporters
Chamber of commerce warns that fall of tightly managed Chinese currency risks prompting trade retaliation
Chamber of commerce warns that fall of tightly managed Chinese currency risks prompting trade retaliation

Critics say currency is undervalued and being used to subsidise Chinese exports

PBoC makes it cheaper for traders to bet on weakening currency amid concerns about rapid appreciation

Appreciation would suit Beijing’s global ambitions for the currency

A steady appreciation would boost domestic consumption and improve trade relations

If renminbi settlement becomes cheaper and more trade migrates, firms will have less need to generate or hold US currency

Central bank fixes currency at highest level against dollar in 15 months