According to online reports, Zou Lan, deputy governor of the central bank, said that China does not seek to gain international competitive advantages through exchange rate devaluation. The People's Bank of China's exchange rate policy stance is clear and consistent. It will continue to adhere to the decisive role of the market in the formation of exchange rates, maintain exchange rate flexibility, and at the same time strengthen expected guidance, prevent exchange rate overshoot risks, and keep the RMB exchange rate basically stable at a reasonable and balanced level.