Business
16:30, 26-Oct-2018
PBOC chief voices confidence to keep yuan stable
Updated
15:53, 29-Oct-2018
["china"]
Share
Copied
China has experience in dealing with market fluctuation and will take targeted measures if necessary, Pan Gongsheng, deputy governor of China's central bank, said on Friday, noting China will keep the yuan stable at a reasonable level of equilibrium.
PBOC, China's central bank, has taken some measures and will continue to apply macro-prudent measures to stabilize expectations in the foreign exchange market, said Pan, who is also chief of the country's State Administration of Foreign Exchange (SAFE).
"As for those yuan short-sellers, we have dealt with them several years ago and we have been quite familiar with each other," Pan said, "I believe both of us still have fresh memory of that."
PBOC and SAFE have gained rich experiences and prepared sufficient policy tools in dealing with market fluctuation in recent years, and targeted measures will be taken if necessary, Pan said.