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A rebound of the U.S. dollar will put...>

CHINA PRESS: A rebound of the U.S. dollar will put pressure on the yuan exchange
rate and increase uncertainty over the yuan's volatility in the short term, a
former head of the balance-of-payments division of the State Administration of
Foreign Exchange (SAFE) predicted in comments to the Securities Times. But
China's economic performance, tight monetary policy and strict financial
regulation have provided a good base for a strong yuan, Guan Tao, now a research
fellow with the 40Forum think tank, told a Beijing financial conference on
Monday. Private consumption and services need to contribute more to the economy,
Guan argued. Monetary policy will be neutral or perhaps tighten, and financial
regulation will continue to be strengthened, which is likely to be the new
normal, Guan said. (Securities Times)

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