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MNI BRIEF: China Forex Market Can Adjust To US Fed Tightening

MNI (Beijing)

China’s forex market is becoming more resilient with the foundation and conditions to adjust to the current round of policy changes by the U.S. Federal Reserve, Wang Chunying, the deputy head of the State Administration of Foreign Exchange said on Friday.

On concerns of recent capital outflow and yuan depreciation, Wang said as the market digests short-term factors, institutional investors will return to China's securities for the long term. She said outflow of bonds and equities in the last 10 days of March slowed by 39% and 44% from the middle of the month, and some trading days have registered inflows.

On the yuan, Wang maintained the currency will fluctuate both ways and stay basically stable, supported by China's resilient economy, strong international balance of payment and a reasonable current account surplus.


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Policy NewsPBOCAPACChinaBriefStoryRegionCentral Bank News
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Policy NewsPBOCAPACChinaBriefStoryRegionCentral Bank News
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