PBOC's Tang sees strong pressure on yuan

'In the process of foreign exchange regime reform, the local currency still faces strong appreciation pressure,' said Tang Xu, director of the research department within the People's Bank of China, in an English-language paper prepared for a conference.

'The latest discussion with the World Bank and IMF indicates this pressure.'

The trading band for China's currency, the yuan, is "wide enough for now", said Tang.

Speaking at a conference in Beijing, Tang also said that the country's large

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