A commentary piece in People's Daily (overseas edition) - via Bloomberg

  • China is willing to stand temporary fluctuations in currency rates to gain independence over its monetary policy

So says Ministry of Commerce researcher Mei Xinyu

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No further details as yet. It may be a simple discussion of how monetary policy works. I'll try to get more on it.

The People's Daily is an official newspaper of the Chinese Communist Party.

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More from Bloomberg:

  • Yuan couldn't be pegged to dollar perpetually since China is the 2nd largest economy in world
  • Strong position of dollar against yuan won't last long

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which doesn't really clear much up at all. Ah well.