China's markets have largely finished correcting, said People's Bank of China (PBoC) governor Zhou Xiaochuan on September 6, as the G20 meeting of central bank governors and finance ministers drew to a close.
Zhou said the renminbi exchange rate has stabilised and a correction in stock markets has largely reached its conclusion. The renminbi fell after the PBoC moved to a more "market-orientated" exchange rate in August, and it has been 2.5% against the dollar since the start of the year.
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