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China May Stabilize Yuan with Combined Measures: Guan Tao

CHINA PRESS

China may increase the flexibility of the yuan and allow more capital outflow and controlled inflow in a combined approach to stabilizing the yuan next year, Guan Tao, the chief economist of BOC International wrote in an article published by Yicai.com. Guan, a former director of the international payments department at the State Administration of Foreign Exchange, emphasized one policy tool cannot be expected to solve all problems. The Central Economic Work Conference last week talked of "maintaining the stability of the yuan at a reasonable and equilibrium level" for the first time in two years, Guan said.

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