China regulator says August yuan reform was normal conduct
[BEIJING] China's market-based reform of its currency regime that took place in August was a normal government conduct rather than large-scale intervention, an official at the country's foreign exchange regulator told a news conference in Beijing on Thursday.
The yuan reform would have positive effects on stablisiing cross-border capital flows in the future, while no direct connection can be seen between the currency reform and capital outflows, Wang Xiaoyi, the deputy head of the the State Administration of Foreign Exchange (SAFE) said.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
US core capital goods orders rise moderately in March
Chinese tourists are again embracing international travel
Abu Dhabi raises US$5 billion with first eurobonds in three years
Thailand’s 500 billion baht handout aims to boost overall economy, not geared to poor: official
German business sentiment rises more than expected in April: Ifo
Indonesia’s central bank surprises with “pre-emptive” rate hike to cushion falling rupiah