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The 14th Lujiazui Forum in Shanghai, China, June 8, 2023. /CFP
China's foreign exchange market and its operations have been generally stable in 2023, said Pan Gongsheng, the deputy governor of the People's Bank of China and head of the State Administration of Foreign Exchange, on Thursday at the ongoing 14th Lujiazui Forum in Shanghai, where the forex market emerged as a main discussion topic.
The exchange rate of the Chinese yuan, or renminbi, has remained generally stable and at a reasonable level, Pan said, noting that China's forex market has a good foundation.
Pan added that the authorities have confidence in maintaining the operational stability of the forex market.
Meanwhile, during a discussion that touched on further expanding the Shanghai International Financial Center, Zhou Xiaochuan, vice chairman of the Boao Forum for Asia, said it is crucial to focus on increasing the free use and convertibility of the renminbi, and further reform the foreign exchange management system.
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Disinformation report hotline: 010-85061466