The ultimate goal of China’s exchange rate reform is to make the yuan a fully convertible currency, Yi Gang, head of the State Administration of Foreign Exchange (SAFE), said Friday.
There is no foundation for the yuan to move sharply and China can maintain a flexible exchange rate mechanism, making the currency stand at a basically reasonable and balanced level, a senior central bank official said on Friday.
China’s exchange rate reform on right trackChina aims to make yuan convertibleSpecial: China Advances Yuan Rate Reform
A senior Chinese central bank official Friday stated that China’s exchange rate reform was moving at a proper pace and in the proper direction, with obvious benefits.
