Yuan fluctuations within proper range: Economist

BEIJING - Despite recent fluctuations, the yuan exchange rate is still within a proper range in line with China's exchange rate policy, a JP Morgan economist has said.

"When measured against a basket of currencies, the yuan has been fluctuating within a range of about 3 percent since the beginning of this year, which does not deviate from a market-based, managed floating exchange rate system", according to Zhu Haibin, JP Morgan chief China economist.