PBOC vice-governor: yuan hasn't cost US jobs

Guo Shuqing, vice-governor of the People's Bank of China and director-general of the State Administration of Foreign Exchange (SAFE), said in an interview that the allegation the renminbi is undervalued and has cost US jobs is unfounded.

He told Xinhua that even if RMB, the Chinese currency, appreciates by as much as 100 percent, it will not change the fact that the cost of Chinese labor is far lower than that in the United States.

Guo said the per-capita wage of Chinese workers in the manufact