Wang Lei, Deputy Director-General, Capital Account Management Department, China’s State Administration of Foreign Exchange (SAFE) calmed nerves, amidst the recent depreciation of the yuan, at a virtual China capital market conference.

Key quotes

“Volatility in China's financial markets and foreign investment into the country was "a natural response" in a "complicated context.”

“We see that inflow and outflow are quite natural in securities investment. Everything has been well under control and I see this partial adjustment doesn't change the overall balance of the cross-border capital flow(s) in China."

Related reads

• USD/CNH Price Analysis: Retreats inside weekly triangle below 6.6700
• China says it conducted military exercise around Taiwan to warn US