October 22, 2024 03:48 GMT
MNI BRIEF: Chinese Firms Increasingly Hedging Currency Risk
MNI (BEIJING) - Chinese firms are increasingly hedging their forex risk via derivatives, with 27% of companies using the instruments since the start of the year, an historical high, according to Li Hongyan, deputy director general at the State Administration of Foreign Exchange.
Li added the number of enterprises using the yuan for cross-border trade reached 30% this year, also a record.
SAFE will closely monitor the international and financial environment and carry out counter-cyclical macroprudential adjustments to effectively maintain stable FX market operation, Li continued.
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