SAFE: Expectations for yuan depreciation decline

BY APD NEWSJul 18,2019 at 15:49

The influence of the China-U.S. trade war on cross-border financial flows of China is under control with declining market expectations on yuan depreciation, China's currency watchdog said Thursday.

Comparing the data of May and June this year with that in the second half of last year, performance of market entities is more reasonable and stable, and expectations on yuan depreciation are lower than in the second half of last year, Wang Chunying, the spokesperson of Administration of Foreign Exchange (SAFE) said.

According to Wang, the impact of China-U.S. trade war on cross-border capital flows of China, which SAFE monitors in real time, is under control in the past six months.

She also mentioned that the yuan exchange rate was generally stable, and supply and demand in the foreign exchange market was basically balanced, expecting basically stable cross-border capital flows in the next half.

(CGTN)

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