PBOC clarifies vice governor's remarks

The People's Bank of China (PBOC) said the yuan exchange rate will not keep on appreciating indefinitely, clarifying an earlier media report that quoted central bank vice governor Wu Xiaoling as saying that the yuan will further rise.

In a statement, China's central bank said that the core meaning of Wu's statement was this: 'As China's economy continues to be strong, in the long run the appreciation of the yuan will be the tendency,' adding that Wu 'is not saying that the yuan will keep on ap