New PBOC adviser says 5% yuan gain okay

It would be acceptable to China for the yuan to appreciate by about 5% a year in the coming two years, a member of the People's Bank of China monetary policy committee, Fan Gang, said in an article published in Monday's 21st Century Business Herald.

Such a rise "would have little negative impact on (China's) economic growth," said Fan, who is the committee's new academic member and a professor at government-backed think tank the Chinese Academy of Social Sciences.

A reasonable annual appreciat

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