# People’s Bank of China Rules Out Competitive Yuan Devaluation to Support Exports - Beijing Post

> Governor Pan Gongsheng told a G20 meeting that China does not intend to weaken the yuan to gain a trade advantage. The statement pushes back on concerns that Beijing could use currency policy to offset external tariff pressure.

- Date: 2026-10-31 · published 2026-10-31T10:06:03.279Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/3028-people-s-bank-of-china-rules-out-competitive-yuan-devaluation-to-support
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A firm no-devaluation pledge reduces the risk of a sharp yuan drop that would make Chinese buyers less willing to purchase US feed grains and meal, supporting existing trade flows and prices.

## Read by commodity

- SOY: neutral
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-04-26 | [China cuts banks’ FX reserve ratio to support yuan - Business & Finance - Business Recorder](https://feedsoft.ai/events/7640-china-cuts-banks-fx-reserve-ratio-to-support-yuan-business-and-finance-business.md) | +0.8% | +1.4% |
| USDCNY | 2016-12-03 | [China should use part of its foreign reserves to stabilize yuan expectations: central bank adviser](https://feedsoft.ai/events/73694-china-should-use-part-of-its-foreign-reserves-to-stabilize-yuan-expectations.md) | +0.3% | +1.1% |
| USDCNY | 2022-10-26 | [Chinese state banks sold dollars to support yuan late on Tuesday - sources \| Reuters](https://feedsoft.ai/events/6937-chinese-state-banks-sold-dollars-to-support-yuan-late-on-tuesday-sources-reuters.md) | +0.1% | -1.5% |
| USDCNY | 2023-01-06 | [China's cascade of economic support measures spurs yuan buying - The Business Times](https://feedsoft.ai/events/12764-china-s-cascade-of-economic-support-measures-spurs-yuan-buying-the-business.md) | -2.1% | -1.6% |
| USDCNY | 2022-09-29 | [Exclusive: China's state banks told to stock up for yuan intervention](https://feedsoft.ai/events/7209-exclusive-china-s-state-banks-told-to-stock-up-for-yuan-intervention.md) | -1.2% | +0.3% |
| SOY | 2021-09-14 | [EU mulling rules to stop import of ‘deforestation’ products – EUobserver](https://feedsoft.ai/events/45098-eu-mulling-rules-to-stop-import-of-deforestation-products-euobserver.md) | -0.8% | -3.5% |
| SOY | 2022-07-06 | [An Update: European Union Draft Law Seeking to Ban Imports and Exports of Commodities from Regions at Risk of Deforestation](https://feedsoft.ai/events/40520-an-update-european-union-draft-law-seeking-to-ban-imports-and-exports-of.md) | +1.1% | -0.4% |
| SOY | 2018-01-30 | [CEI Joins Coalition Letter In Support of EPA Proposed Adjustments to the Renewable Volume Obligations for Biodiesel - Competitive Enterprise Institute](https://feedsoft.ai/events/66861-cei-joins-coalition-letter-in-support-of-epa-proposed-adjustments-to-the.md) | -2.2% | +4.7% |

## Sources

- beijingpost.com: https://beijingpost.com/people-s-bank-of-china-rules-out-competitive-yuan-devaluation-to-support-exports

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.