The People's Bank of China-backed (and hence Chinese Communist Party backed) Securities Times said today in an opinion piece that

  • "The process of economic recovery in the post-COVID era will not be accomplished overnight and it requires policy support,"
  • "But with gradual recovery of the broad economy, there can be a little more confidence and calm with the yuan exchange rate,"

That's not been evident today with a sharply weaker yuan:

Offshore yuan near a historical low:

usdcnh 08 September 2023