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To counter the procyclical..............>

CHINA PRESS
CHINA PRESS: To counter the procyclical fluctuations in the forex market, China
may take counter-cyclical measures to keep the yuan exchange rate within
appropriate levels, Shanghai Securities News reported, citing a report by the
PBOC. 
  - China, persisting in its liberalization of the yuan, will not use
competitive depreciation as a tool to offset the impact of external trade
disputes, the newspaper said. 
  - China will maintain a neutral and prudent monetary policy and firmly
prohibit strong stimulus measures in the next stage, the newspaper added. 
  - The PBOC will use multiple monetary policy tools efficiently to achieve a
balance between stable growth, structural reform and risk prevention, the
central bank said, according to the newspaper. 

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