CHINA-CPPCC/NPC: ECONOMY
Speaking on March 12, 2016, on the sidelines of the NPC session, the Governor of the People's Bank of China Zhou Xiaochuan said "There is no need at all to rush to buy U.S. dollars. There is no basis for continued weakness of the Renminbi and China will not seek to boost exports through competitive devaluation.” Attributing the previous depreciation to concerns on a slowing Chinese economy and market jitters caused by easing policies from Europe and Japan, he added that the Renminbi has started to return to its normal and reasonable level after volatility, and the trend will continue. |