Comments from China SAFEofficial Wang Xiaoyi:

  • Irrational market fluctuation seen after China August FX reform
  • FX rate fluctuations were markets own actions
  • Move in FX mkt is not large scale intervention
  • Federal Reserve hesitant to hike rate due to unstable US economy

More to come

  • China able to handle normalization of Fed policy
  • Feds rate hike would help China expand overseas demand
  • Normalization of Fed policy would help stabiles yuan forecast, would help China's reform