PBOC says China to deepen yuan rate reform

China will deepen yuan exchange rate reforms and further promote the convertibility of the currency in the capital account, the People's Bank of China (PBOC) said in answer to a series of questions published in the China Securities Journal.

China will also guide reasonable capital outflows and improve the management of capital inflows, the PBOC said.

The central bank also said the yuan revaluation will not cause a sharp increase in imports, nor will it decrease China's advantage in the manufa

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