PBOC's Fan says China would gain from yuan rise

A modest appreciation of the yuan is good for China and will help to curb speculation on the currency, the Xinhua news agency reported Friday 15 December, citing Fan Gang, a member of the central bank's monetary policy committee.

"Modest yuan appreciation will not only prevent big fluctuations in the economy but also help to crack down on speculative funds," Fan said.

"I agree with China's current exchange rate level and the modest appreciation under a managed floating mechanism," he said.

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