Renminbi to remain stable, regulator says

Central bank vice-governor voices confidence amid currency volatility

The monetary authority vowed to stabilize the renminbi amid escalated trade tensions, while continuing to push forward financial opening-up and protecting overseas investors' legal rights, said a senior official from the central bank on Sunday.

"We have the foundation, confidence and capacity to maintain a stable foreign exchange market in China, and keep the renminbi exchange rate at a reasonably stable equilibrium," said Pan Gongsheng, vice-governor of the People's Bank of China, the central bank, said in a statement on its website.