China Will Roll Out Counter-Cyclical Steps if FX Market Faces Greater Fluctuations

SHANGHAI/BEIJING, Oct 22 (Reuters) – China’s forex regulator said it will roll out counter cyclical measures at an appropriate time in the event of greater currency market fluctuations due to policy tightening at major world economies.

The shift in policy at global central banks will not change the largely stable China’s balance of payments conditions nor the trend of the yuan currency, Wang Chunying, spokesperson for State Administration of Foreign Exchange, told a press conference. (Reporting by Winni Zhou and Ryan Woo Editing by Shri Navaratnam)

Source: https://www.reuters.com/article/china-forex/china-will-roll-out-counter-cyclical-steps-if-fx-market-faces-greater-fluctuations-regulator-idUSB9N2R701M