China to keep yuan exchange rate generally stable

Beijing, March 5 (IANS) China will keep the yuan exchange rate generally stable while continuing with reforms of exchange rate liberalisation, according to a government work report to the national legislature’s annual session.

China will continue to improve the market-based mechanism for setting the yuan exchange rate to ensure it remains generally stable at an appropriate and balanced level, said Xinhua news agency citing the report.

The yuan has been heading south since the central bank revamped the foreign exchange regime in August 2015 to let market forces play a greater role in setting the currency’s value.

Chinese authorities have on many occasions reiterated that there is no basis for the yuan’s continued depreciation, citing factors including the country’s large foreign exchange reserve and healthy trade balance.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here