PBOC looks to market
By Xin Zhiming | China Daily | Updated: 2007-08-09 07:23
The central bank said yesterday it will rely more on the market to increase the flexibility of the yuan.
"The role of market supply and demand will be greater," the People's Bank of China said in its monetary policy report for the second quarter.
It said the exchange rate of the yuan will be kept stable at a reasonable level.
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