MNI: The yuan is unlikely to fall below the 7.0......>

MNI: The yuan is unlikely to fall below the 7.0 level, as China's economy

continues to be resilient, reported China Securities Journal, citing experts. 

  - It is still necessary to be cautious of the impacts of irrational market

expectations, the Daily said. 

  - The recent depreciation of the yuan against the U.S. dollar was an effect of

both the slowdown in China's economic growth and market expectations, the

Journal said, citing Sheng Songcheng, former director of Financial Survey and

Statistics Department under the PBOC. 

  - With the liberalization of the exchange rate, the PBOC is more tolerant of

short-term fluctuations, but it will not hesitate to step in when necessary, the

Journal reported, citing experts.