Free Trial

China Should Further Deepen Market-based Reform Of Yuan-Daily

CHINA PRESS
MNI (Singapore)

China should further improve the quotation mechanism of the central parity rate of the yuan, and vigorously develop its FX market by enriching trading products, expanding trading entities and relaxing trading restrictions, the Securities Daily reported, citing Guan Tao, a former FX official and now chief economist of BOC Securities. Further relaxation of the exchange rate fluctuation limit may be considered after the economic recovery stabilizes, though it is also necessary to retain the autonomy of exchange rate management and hold sufficient FX reserves, the newspaper said, citing Wang Youxin, senior researcher at Bank of China Research Institute.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.