Top economist sees robust yuan

Former PBOC expert says sharp depreciation not on the cards

The yuan will not suffer a sharp depreciation in the coming one or two years and its internationalization remains an "irreversible trend", leading economist and former central bank advisor Li Daokui said on Tuesday.

Li said possible uncertainties caused in the United States by the Trump administration, in the worst case scenario, might cause large fluctuations in the US financial markets. These, he said, could push up the value of the dollar and cause a big-margin depreciation of the yuan against the greenback.