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MNI POLICY: China Ready for Further US Provocation: PBOC's Zhu

MNI (Beijing)
     BEIJING (MNI) - China is ready to introduce measures to address any
scenarios resulting from further U.S. threats to cow its market and destabilize
its currency after labeling China as a currency manipulator baselessly, said Zhu
Jun, the director of the international division of the People's Bank of China
(PBOC), at China Finance 40 Yichun Forum Saturday. Zhu didn't elaborate on the
measures.
     The International Monetary Fund, which is the authority on monetary
matters, suggested on Saturday that China increases flexibility of the yuan and
reduces intervention as the trade conflicts escalate, Zhu said. The yuan has
shown to be a strong currency given the real effective exchange rate (REER) has
appreciated by 47% so far since 2005 according to Bank for International
Settlement. It has not been easy since 2018 for the PBOC to stabilize the yuan
given the currency and capital flow were under greater pressure due to the trade
conflicts, he said.
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MC$$$$,MI$$$$,MGQ$$$]
USAPACPolicy NewsFiscalGovernment sectorChina Market NewsChinaJapanAustraliaNew ZealandPolitical RiskRegionNorth America
USAPACPolicy NewsFiscalGovernment sectorChina Market NewsChinaJapanAustraliaNew ZealandPolitical RiskRegionNorth America
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