Also hints at the PBOC may loosen its control over the exchange rate of the yuan:
- improve market-based floating exchange rate mechanism with reference to basket currencies
Then vows further intervention anyway:
- will keep yuan exchange rate basically stable at reasonable levels
And, more:
- will actively use structural monetary policy tools to support green transformation of the economy
- will encourage financial departments to increase financial support for green industry
- will study supportive tools to help lower carbon emissions in the real economy
- will guide financial institutions to fend off risks from environmental changes
- there are uncertainties around the external pandemic situation, economic recovery and macro policies
- cannot neglect pressures from external inflation or deflation
Offshore yuan has strengthened a little on the session here:
