Robust financial system
Print Edition
China’s financial system is “largely stable” and foreign exchange reserves are “relatively abundant,” the State Administration of Foreign Exchange said on Saturday.
The remark came after the yuan, under persistent depreciation pressure, dipped to a five-year low against the US dollar last week.
SAFE said in an online statement it will further facilitate cross-border trade and investment, and continue to promote the yuan’s convertibility under the capital account in an orderly manner.
SAFE will strengthen the monitoring of China's balance of payments, and improve the management of foreign debt and cross-border capital flows.
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