OECD says too early to see yuan devaluation as attempt to boost exports

A senior official at the Organisation for Economic Cooperation and Development said on Monday that it was too early to interpret China's recent yuan devaluations as an attempt to boost its exports. 

PHOTO: BLOOMBERG

SEP 7, 20153:57 PM

[TOKYO] A senior official at the Organisation for Economic Cooperation and Development said on Monday that it was too early to interpret China's recent yuan devaluations as an attempt to boost its exports.

OECD Deputy Secretary-General Rintaro Tamaki, speaking at a news conference in Tokyo, said the scope of the devaluations was rather small to be aimed at the promotion of exports.

He added that utmost attention should be paid to whether China can carry out structural reform to achieve stable and sustainable economic growth.

REUTERS