PBOC adviser says right time for yuan rise

An influential economist who advises the People's Bank of China told Reuters in an interview on Wednesday 26 July that China could afford to let the yuan appreciate further in line with market forces because robust economic growth will help to cushion export-related job losses.

"We now have a relatively favorable opportunity to let market forces determine the yuan's exchange rate," Yu Yongding told Reuters in an interview. He is also a member of the central bank's monetary policy committee.