Chen Deming: China Does Not Exclude A Long-Term Discussion On Exchange Rate Issues.

Minister of Commerce of China

After holding talks with the Minister of economic and trade in Brazil, Chen Deming said he was not prepared to discuss the exchange rate issue in the current talks, but he believed that the G20 autumn conference would provide a good platform for discussing this issue.

Chen Deming, a delegation of Chinese business leaders, met with local officials in the capital of Brazil on Monday to discuss increasing investment in Brazil and importing more products from Brazil.

He mentioned that one of the effective measures to eliminate distortions in the international exchange rate system is the use of

Brazil's currency Real has appreciated by more than 40% against the US dollar in the past two years, thanks to international liquidity and massive foreign investment in Brazil.

Some local analysts said Real added

But Chen Deming avoided China's responsibility for the trade imbalance between China and Pakistan. He pointed out that the policies and measures adopted by the United States were the reasons for the plight of emerging markets.

At the same time, Chen Deming confirmed that China intends to increase imports from Brazil to strengthen trade relations between the two countries.

He said China did not want to do anything that would hurt China's trade relations with China and Pakistan, and China opened its arms to Brazil.

Brazil officials and industry leaders complained that products imported from Brazil were mainly concentrated in raw materials such as iron ore, grain and oil, and few finished products.

In addition, Chen Deming said that China hopes to help Brazil improve its economic environment by investing in key areas such as infrastructure and technology in Brazil.

He said that Chinese companies hope to invest in energy pmission lines, ports, railways, pharmaceuticals, automobile manufacturing and agriculture.