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Yuan To Strengthen By End Of Year - Guan Tao

CHINA PRESS

Authorities recent efforts to boost the economy will strengthen the yuan towards the end of the year, according to Guan Tao, former director at the State Administration of Foreign Exchange. Guan said recent government measures like the reduction in stamp duty for securities trading and tax incentives for individuals who sell and repurchase homes within one year will improve economic fundamentals, which lends support to CNY. In Q4 overseas companies will repatriate less dividends and study abroad students demand for foreign exchange will decrease, which will also support the currency. Guan said he expects August CPI and PPI to show improvements from July’s low point. (Source: Yicai)

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

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