More still from PBOC Gov Yi: China won't devalue yuan to deal with the US trade moves
PBOC Governor Yi Gang speaking at Boao Forum panel
- China will not devalue currency to deal with the US trade issues
- Is steadily pushing forward convertibility for the RMB
Yi Gang has been speaking for a good while now, I've posted plenty from him. What he has been saying, though, has been along the lines we would have expected from previous governor Zhou - policy continuation under Yi (there is a bit more on opening up China but this is a directive from above, of course)
More - some specifics:
China to raise the cap on foreign investors' shareholding in securities companies, fund management firms and trust companies to 51% "in coming months
- the limits will be entirely abolished three years after the increase