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China Should Keep Yuan As Flexible As Possible - Advisor

CHINA PRESS
MNI (Singapore)

China should maintain maximum yuan flexibility and continue to manage cross-border capital flows instead of overly worrying about short term weakness against the U.S. dollar, according to an article posted on the China Finance 40 Forum citing former People's Bank of China advisor Yu Yongding. Yu downplayed the importance of the yuan breaking through 7 against the U.S. dollar. China should seek to stabilise growth through expansionary fiscal and monetary policies given the challenges in the global economy, Yu added.

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