PBOC's Gang: No basis for a persistent yuan devaluation

Yi Gang, a deputy governor of the PBOC, wrote in the People's Daily, noting that there is no basis for a persistent yuan devaluation.

Additional headlines - MNI

Yuan will remain basically stable at a reasonable and balanced level

Some reserve currencies and convertible currencies experienced sharper fluctuations this year due to issues such as expectations of a Fed rate hike, Britain's Brexit decision & terror attacks in France

As the domestic economy is in a transition period, China will continue with prudent monetary policy

Will maintain ample liquidity, enhance credit support for small-medium enterprises, agriculture, and the poor, and create a supportive financial monetary environment for supply-side reform