China's State Administration of Foreign Exchange head, Pan Gongsheng, with some comments via Caixin
- China to combat underground banks, fake forex trading, and forex market manipulations
- Will fight against illegal forex outflows and inflows
- To keep "neutral" policy in cross-border capital flow management
- China's forex reserves are ample
Yup, reinforcing that they are still here to battle against shadow banking and other formalities when it comes to cracking down on illegal activities.
Nothing we haven't heard before. Earlier in the day, the PBOC strengthened the yuan at the fix to its strongest level since August 2015.