The State Administration of Foreign Exchange (SAFE) in the regulator:
- Will strengthen countercyclical supervision, improve the solvency, deposit reserve mechanisms
- Studying broadening the scope of foreign shareholders in non-bank institutions
- China's forex market operation is resilient
- China's forex market faces increasing adjustment
- China's forex market has condition for steady operation in future
- China's forex market remains reasonable and orderly
- Will pay high attention to changes in external environment
- Will prevent yuan exchange rate from overshooting, and prevent risks from abnormal cross-border capital flow
This is the offshore yuan, CNH, which trades without the +/- 2% restriction China imposes on the onshore yuan, CNY. The two never get too far out of line (depends how you define too far out of line course):
