Xinhua
08 Jun 2023, 21:30 GMT+10
SHANGHAI, June 8 (Xinhua) -- China's foreign exchange market will maintain steady operation amid the upward trend of major economic indicators, said the head of the country's forex regulator Thursday.
China's financial cycle has been stable in recent years because of its long-term prudent monetary policies, which provide a favorable environment for the running of the economy and the financial markets, Pan Gongsheng, head of the State Administration of Foreign Exchange, said at the 14th Lujiazui Forum held in Shanghai.
He said predictions of China's economic growth in 2023 from international institutions like the International Monetary Fund have improved since the beginning of the year.
Pan, also the deputy governor of China's central bank, said renminbi assets remain highly attractive as they have competitive interest rates and help diversify investment portfolios while inflation is high globally.
Although the renminbi exchange rate saw slight fluctuations since mid-April, expectations of the exchange rate and cross-border capital flows in China's forex market remain stable, said Pan.
"With more experience in dealing with external shocks and prudent policy tools, we have the confidence, conditions, and capabilities to maintain the steady operation of China's forex market," he said.
Get a daily dose of San Antonio Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Antonio Post.
More InformationVICTORIA, Texas: This week, U.S. District Judge Drew Tipton in Victoria, Texas, ruled that President Joe Biden did not have ...
EL PASO, Texas: Over the weekend, Oscar Leeser, Mayor of El Paso, said that the surge in migrants crossing the ...
(Photo credit: Stephen Brashear-USA TODAY Sports) Entering the final day of the regular season, this is what is known: The ...
(Photo credit: Jim Dedmon-USA TODAY Sports) Audric Estime ran for a 30-yard touchdown with 31 seconds left as No. 11 ...
(Photo credit: Rob Schumacher / USA TODAY NETWORK) Arizona and Houston each celebrated a postseason berth on Saturday night after ...
(Photo credit: Ron Chenoy-USA TODAY Sports) Andreas Maxso's first-half goal was enough to give the Colorado Rapids a 1-0 win ...
LONDON, UK: This week, the Global Financial Centers index showed that New York remains the world's leading financial center, with ...
KAOHSIUNG, Taiwan: In a significant milestone for its defense capabilities, Taiwan has unveiled its first domestically developed submarine. Although it ...
HONIARA, Solomon Islands: Prime Minister Manasseh Sogavare revealed that he opted out of a Pacific Islands leaders' summit at the ...
SACRAMENTO, California: Intending to raise some US$160 million per year to help prevent gun violence, California Governor Gavin Newsom signed ...
MANILA, The Philippines: The Philippines remains steadfast in its resolve not to yield to Chinese efforts to obstruct its fishermen ...
VICTORIA, Texas: This week, U.S. District Judge Drew Tipton in Victoria, Texas, ruled that President Joe Biden did not have ...