Speaking at the Alula Conference for Emerging Market Economies in Saudi Arabia on Sunday, the governor of the Popular Bank of China (PBOC), PAN GongSheng, said the Central Bank “will continue to let the market play a decisive role in determining the determination of the Yuan exchange rate. “
Outstanding statements
He emphasized that a stable Yuan is crucial for global financial and economic stability.
He stressed that, although many currencies have depreciated against a stronger US dollar, Yuan has remained stable despite market volatility.
He pointed out China’s approach to boost domestic consumption through policies such as increased homes and subsidies offer.
China will implement a proactive fiscal policy and a accommodating monetary policy, with stronger counter -contract adjustments to support the economy.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
