China Central Bank Chief Says Yuan, Policy to Be Stable in 2017

By Fran Wang

(Beijing) — The yuan’s exchange rate will stay stable this year, China’s central bank governor said on Friday, as Beijing seeks to downplay concerns about capital outflows that were partly fueled by depreciations in the Chinese currency.

China’s economy will further stabilize this year and become healthier with the deepening of supply-side reforms, and international investors’ confidence in the country will improve, laying the foundation for the stability of the yuan, People’s Bank of China Governor Zhou Xiaochuan told reporters.