No basis seen for long-term drop in Chinese currency

Worries about large-scale capital outflow can be eased and market expectations adjusted

Experts expect the renminbi to remain stable against a basket of currencies as there is no long-term basis for depreciation.

"Despite short-term pressure due to the prospect of higher interest rates in the United States and uncertainties in the global economy, the renminbi does not face continuous depreciation pressure in the long run," said Jiang Chao, an analyst with Shanghai-based Haitong Securities.