PBOC to avoid triggering forex volatility

People's Bank of China chief Zhou Xiaochuan has vowed that the bank will not begin any changes in the management of its foreign exchange reserves that could introduce market volatility.

"We do not want to take any initiative in our foreign exchange reserve weightings that would trigger turbulence in the financial markets," he said in remarks posted on the bank's website on Monday 12 September.

"We will not take any incautious action in terms of this aspect."

Zhou's remarks were made in response