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China Conveys Stability on Yuan Despite Hawkish Fed

  • Ex-PBOC adviser Li Daokui says goal is to keep the yuan steady
  • Exchange rate wording shift may signal more flexibility ahead
Bloomberg business news

CICC's Liang Says China Confident of 6.5% Growth Target

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If China is worried about the freshly hawkish Federal Reserve rocking the yuan, it isn’t showing - yet.

Leaders of the world’s second-largest economy conveyed a message of stability as the National People’s Congress began Sunday in Beijing. Central bank deputies Pan Gongsheng and Yi Gang emphasized that the currency market was steady, with Pan reinforcing that any yuan volatility would be “normal,” even if trading is affected in the short term.