China says yuan strength hurting export sector
2013-05-16 16:18:25
China has indicated that the recent appreciation of yuan is hurting exporters' profit margins despite improved global demand conditions.
"Yuan appreciation is having a big negative impact on export firms," Commerce Ministry spokesperson Shen Danyang was quoted as saying in Beijing on Thursday. According to the ministry, export orders also remained weak.
Shen, meanwhile, signaled concern over the continued weakness in yen as a result of the recent monetary easing by Bank of Japan.