Devaluation to benefit exporters

Enterprises may be able to leverage on price differential for better long-term gains

Despite the gloom and economic uncertainties associated with the devaluation of the Chinese currency, the country's exports could see a healthy uptick in the long term, a top commerce ministry official said on Wednesday.

Zhang Yuzhong, deputy director of the investment promotion agency under the Ministry of Commerce, said the depreciation of the yuan will ease export pressures for domestic manufacturers. Exporters had been hit hard after the United States Federal Reserve withdrew its quantitative easing program and other nations depreciated their currency value to gain more market access, he said.