Stable renminbi foreseen

Solid economic growth expected amid fine-tuning of policies

Market participants foresee a relatively stable Chinese currency in the near term, without fear of impacts from the US-China trade dispute. They expect solid economic growth momentum amid policy fine-tuning.

They showed confidence after the central bank announced it was imposing a 20 percent reserve requirement ratio on the trading of foreign-exchange forward contracts late on Friday. This financial instrument is usually used by enterprises to hedge futures' exchange rate risks, according to a statement on the bank's website.