The People’s Bank of China’s Vice Governor Yi Gang said the country will do its part to help correct imbalances in the world economy.
People’s Bank of China’s Vice Governor Yi Gang said his country will do its part to help correct imbalances in the world economy through a “gradual” appreciation of the yuan.
China will continue to support Europe and invest in its markets, central bank Deputy Governor Yi Gang said today.
The yuan’s exchange rate is the closest to “equilibrium” as it has ever been, Chinese central bank deputy governor Yi Gang said.
China’s decision to widen the yuan’s trading band against the dollar means investors can play a bigger role in determining the value of the currency, People’s Bank of China deputy Governor Yi Gang said.
"It's no longer in China's favor to accumulate foreign-exchange reserves."
- Yi Gang on Nov 20, 2013