PBOC’s Gang: China's declining forex reserves is good news in long term

More comments flowing in from the PBOC adviser, Fan Gang, as he continues to speak in a scheduled interview with Bloomberg TV today.

Key Headlines:

China's declining forex reserves is good news in long term

The PBOC wants to see FX reserves reduce smoothly and gradually

Capital outflow curbs effective, market has responded

China policy makers are not likely to drop intervention