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China current account surplus of 1.0% in 2019, projected to grow to 1.3% in 2020, was broadly in line with economic fundamentals, the IMF said in the report. It estimated that China yuan was undervalued by around 2% in 2019, largely due to trade tensions with the United States, but said the assessment was to especially high uncertainty. Real effective exchange rate had appreciated by 1.8% from the 2019 average through May 2020, the report showed..
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