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Yi Gang, president of the People's Bank of China, said on Monday that the Sino-US trade negotiations made better progress than expected at the G20 summit last weekend, providing a positive road map for further negotiations.
"I think it's a good result; maybe it's a little better than expected," Yi Gang said when asked about the G20 meeting. "We will still have difficulties and uncertainties in the future, but overall, the two heads of state have drawn up a road map for the future, which is a very constructive road map."
Yi Gang also said he did not want a competitive devaluation of the RMB.
On Saturday, President Trump made concessions, including not imposing new tariffs and easing restrictions on Huawei, a technology company, to ease tensions with Beijing. Later, the United States and China agreed to resume trade negotiations.

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