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China official: yuan has little impact on trade with U.S.

BEIJING (Reuters) - Adjustments to the yuan's exchange rate will have limited impact on reducing China's trade surplus with the United States, vice commerce minister Jiang Yaoping said at a forum on Wednesday.

Jiang noted that much of the imbalance was explained by the processing trade in which multinational firms import intermediate goods from some countries and assemble them as finished products in China before exporting them to the United States.

(Reporting by Aileen Wang and Simon Rabinovitch; Editing by Jacqueline Wong)