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Yuan Needs Time To Appreciate - Chief Economist

CHINA PRESS

The Yuan will take time to strengthen as markets wait for new stimulus policies to take effect and external factors remain uncertain, according to Huang Wentao, chief economist at China Securities Construction. In an interview with 21st Century Herald, Huang said although the government will not implement strong stimulus in H2, the yuan will strengthen later in the year as the domestic economy stabilises with inventories, incomes and exports recovering naturally. In the short term, CNY will fluctuate around CNY7.1-7.2 against the U.S. dollar, he added.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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