The China Securities Journal carried an opinion piece on Wednesday, citing Wang Lijuan, a deputy researcher at the China Banking Association, as he expresses his view on the Chinese yuan.
Key Quotes:
Depreciation pressure on the Chinese yuan against the US dollar has eased, as shown in the narrowing price gap between the offshore and onshore yuan.
The offshore yuan is no longer naturally stronger against the onshore currency.
The PBOC should closely track market changes and take necessary measures to reduce the procyclical behavior of the currency, while also improving the flexibility and transparency of the yuan.
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