China to reform forex regime, not just level

China's central bank will focus this year on how to establish a workable exchange rate mechanism instead of simply fixing the exchange rate at a certain level, the official China Securities Journal reported, citing a senior PBOC official.

"Don't ask the central bank governor when he will raise interest rates, when he will change the forex rate," said Wu Xiaoling, deputy governor of the People's Bank of China, according to the newspaper. "The governor won't answer such questions," Wu said.

Accordin

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.