Comments by Guo Shuqing, China's banking and insurance regulator chief
- Says China has never deliberately devalued the yuan amid trade dispute
- Escalation of trade frictions will have limited impact on China's financial markets
- Says that stock and foreign exchange markets have not panicked
- Says that financial risks are controllable
For some context, Guo is also the PBOC's party secretary and sort of keeps tabs on what the central bank should or should not do on behalf of the government. The remarks here aren't anything Chinese officials haven't made before in the past but it reaffirms that China isn't willing to budge from its current stance with regards to trade relations with the US.