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5 Feb 2016
There is no basis for continued yuan devaluation – China SAFE’s Pan
China State Administration of Foreign Exchange’s (SAFE) New Head Pan Gongsheng crossed the wires today, commenting on the yuan exchange rate.
Key Quotes:
Will crack down on illegal fx transactions
Won't go down path of capital controls
There is no basis for continued yuan devaluation
Yuan rate v basket is basically stable
Chinese economy is in reasonable range
Will step up supply-side reforms
Key Quotes:
Will crack down on illegal fx transactions
Won't go down path of capital controls
There is no basis for continued yuan devaluation
Yuan rate v basket is basically stable
Chinese economy is in reasonable range
Will step up supply-side reforms