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BEIJING (MNI) - The following lists highlights from the Chinese press for
China will continue to deepen forex management and reform and further open
up the market in the second half of the year, according to a statement from
State Administration of Foreign Exchange (SAFE). China will further elevate the
level of trade and investment liberalization and protect foreign enterprises'
legal rights, SAFE said. China will safeguard the safety, liquidity and
appreciation of forex and prevent the risk of cross-border capital flows, SAFE
The yuan will continue to fluctuate between 6.7 and 6.9 in the second half
of the year but is unlikely to break the 7.0 level, China Securities Journal
reported, citing experts, including Chen Xiao, an analyst at Ping An Securities.
Large capital outflows are unlikely to happen while the yuan's rapid
depreciation helps to release the negative pressure of China and the U.S.
economic divergence, Chen said, according to the newspaper. 7.0 is most likely
to be the bottom of this round of depreciation as breaking the 7.0 level might
lead to expectations of continuous depreciation and capital outflow, the
newspaper said, citing Ming Ming, chief analyst of Citic Securities.
The Donald Trump administration didn't show respect and sincerity for
negotiation, so China should be prepared for a long-lasting trade war, the 21st
Century Business Herald reported, citing Tu Xinquan, China Institute for WTO
Studies. China is able to bear the impact from the 25% tariff levied on all the
Chinese exports, the newspaper said, citing a report by Tsinghua University. The
new list of Chinese goods targeted by the U.S. focuses on intermediate products,
which will increase the costs of goods for American consumers, Tu said,
according to the newspaper.
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