More on China’s Central Bank, Forex Regulators Pledge to Stabilize Yuan

Earlier post on this is here:

• China Foreign Exchange Committee (CFXC) held meeting - pledged to support yuan

The Wall Street Journal reports now (may be gated):

• Officials said they aim to stabilize the yuan exchange rate at a reasonable, balanced level

In a nutshell:

• Chinese foreign-exchange regulators reiterated their pledge to defend the yuan
• In a recent meeting, officials at The People’s Bank of China and the State Administration of Foreign Exchange said they aim to stabilize the yuan exchange rate at a reasonable, balanced level.

Separately were other policy moves:

• PBOC made it easier for domestic firms to raise money from overseas

This move should increase onshore USD liquidity and relieve yuan depreciation pressure.