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Keep Yuan FX Rate Stable - SAFE

CHINA PRESS

China will implement policies to maintain basic stability in the yuan exchange rate at a reasonable and balanced level, according to the State Administration of Foreign Exchange (SAFE). At a recent work conference held with the People’s Bank of China, leaders said authorities will implement prudent monetary policy accurately and strengthen counter-cyclical adjustments. The central bank will use various tools to ensure reasonable and sufficient liquidity and promote the steady and moderate decline of financing costs for firms and households. Policymakers will use aggregate and structural monetary-policy tools, and support innovation, green development and SMEs.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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