China's current foreign exchange........>

CHINA PRESS: China's current foreign exchange policy should aim at stabilizing

the yuan exchange rate, the Economic Information Daily said Monday in a

front-page commentary.

- An exchange rate  overshoot may trigger a sharp change in the market

sentiment, which could have a serious negative impact on the financial system

and even the wider economy, the Daily said.

- However, focusing on reducing yuan volatility does not mean the central bank

will give up the reform of the exchange rate regime, EID said. In fact, only

pushing forward with reform and letting the yuan fluctuate more freely can

reduce investors' unilateral depreciation expectation and ease the excessive

focus on a specific exchange rate level, the newspaper said.

(Link to the story: https://bit.ly/2OQop8M)