“China should maintain maximum yuan flexibility and continue to manage cross-border capital flows instead of overly worrying about short-term weakness against the US dollar,” the China Finance 40 Forum carried a story, citing former People's Bank of China advisor Yu Yongding.

Additional takeaways

Dismissed “the importance of the yuan breaking through 7 against the US dollar.“

“China should seek to stabilize growth through expansionary fiscal and monetary policies given the challenges in the global economy.”

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