- Will maintain various policy tools to keep liquidity reasonably ample
- Will step up cross-cyclical policy adjustments in 2022
- Yuan exchange rate may deviate from equilibrium in near-term, but will correct over long-term
These are quite notable remarks as the Chinese yuan is threatening to strengthen past 6.35 against the dollar this week. This is helping to stave off a meaningful break for now. However, the final remark on allowing price to deviate slightly could be a sign of flexibility after having seen the yuan fluctuate in a narrow range against the dollar for almost a year now.