PBOC to maintain managed floating forex mechanism

China will maintain its managed floating rate mechanism for its yuan currency, state television quoted central bank governor Zhou Xiaochuan as saying.

"We will still keep the managed floating foreign exchange rate mechanism in place," he said in an interview.

Zhou was speaking in Shanghai where he was attending meetings with visiting IMF officials and Asian financial executives.

Zhou said China's foreign exchange system should help the nation's policy of opening up its markets and fostering econ