China’s SAFE: Yuan more stable than expected

Chinese yuan is more stable than expected and has maintained relatively high flexibility, the country’s forex regulator, the State Administration of Foreign Exchange (SAFE), said in a statement released on Friday.

Additional quotes

“Chinese yuan will still fluctuate around a reasonable balanced level.”

“China's forex market to develop steadily under the support of the domestic economy, markets.”

“Will step up monitoring of inbound, outbound cross-border capital flows.”