Wu Hongwei, a researcher of China-Russia relation

s at the Chinese Academy of Social Sciences, said bilateral cooperation plays a prominent role

in guaranteeing world peace and security at a time when the global situation is clouded by tensions and turmoil.

The two countries share the same position in promoting a more stable and multipolar world, Wu said, adding that they ha

ve sent such signals through supporting and coordinating with each other on international occasions.

China would rather rely on market-oriented forces to determine the renminbi’s value than defend its currency by di

pping into its $3 trillion foreign exchange reserves amid trade disagreements, analysts said.

The United States Treasury announced on Wednesday that it could not label Chin

a as a “currency manipulator” after Washington monitored the recent performance of the RMB.

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