March 10
Zhou Xiaochuan, governor, People's Bank of China
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Zhou Xiaochuan , Governor of People's Bank of China, speaks at a press conference on financial reform and development in Beijing, March 10, 2017. [Photo/Xinhua] |
On RMB exchange rate
Sound economic fundamentals and a promising outlook for China's economy will help the yuan to naturally stabilize this year. The yuan is also expected to remain at a stable level thanks to achievements in supply-side structural reform and promising signs that have appeared since the fourth quarter of last year. But exchange rate fluctuation is normal because no one can make precise prediction as uncertainty can appear anytime.
On foreign exchange
The decline in China's foreign exchange reserve is a normal phenomenon as
China does not want that much forex reserve. The current $3 trillion foreign exchange reserves level is adequate for the country to maintain financial stability. China sees no need in its policymaking to overreact.
