China SAFE says will keep yuan basically stable at reasonable and balanced

Author: Eamonn Sheridan | Category: News

China's FX regulator is the State Administration of Foreign Exchange (SAFE). Remarks:

  • country's forex market mostly stable
  • current account surplus within reasonable range
  • forex reserves steadily rising
  • China's FX reserve is a responsible investor on global financial markets
  • China will steadily push forward with opening up of capital account
  • Overseas investors in China's capital markets remain low with huge room for growth
  • Potential for foreign capital flows into China remains huge
  • Will keep yuan basically stable at reasonable and balanced levels
  • China will build open and competitive forex market with more participants and products
  • Will improve FX risk hedging methods
These guys pretty much never say the yuan is unstable and unbalanced. 

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