People’s Bank of China (PBOC) Deputy Governor Liu Guoqiang said in a statement on Tuesday, the central bank “will keep yuan exchange rate basically stable.”

Additional quotes

“Will maintain various policy tools to keep liquidity reasonably ample.”

“Will step up cross-cyclical policy adjustments in 2022.”

“Yuan exchange rate may deviate from equilibrium in near-term, but will correct over long-term.”

Another PBOC official was reported as saying that “property sales and financing steadily returning to normal.”

Market reaction

USD/CNY was last seen trading at 6.3509, up 0.06% on the day.