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China’s forex market stable: regulator

Updated: Apr 6,2017 7:17 AM     Xinhua

BEIJING — China’s foreign exchange market is now relatively stable, with cross-border capital movement gradually becoming balanced, the head of the country’s forex regulator said on April 5.

Speaking at a meeting with representatives from foreign investors, Pan Gongsheng, head of the State Administration of Foreign Exchange, struck a confident tone that China’s cross-border payments will be “steady” in the future.

He said China’s foreign exchange management will basically focus on reform and opening-up to facilitate cross-border trade and investment, and at the same time prevent risks from cross-border capital flows.

Stressing these as two “basic points,” Pan said China’s foreign exchange management aims to better serve enterprises and the real economy and maintain a healthy, steady and good market order.

A steady and benign market is in line with the common interests of both the regulator and market entities, and requires joint efforts from all parties involved, he said.