Source: China – South China Morning PostChina’s central bank has shed some light on its latest foreign exchange policy six years on from a devaluation of the yuan that was meant to be a free-market reform but instead sent shock waves through global financial markets.
The People’s Bank of China (PBOC) has pledged to guide financial institutions to provide businesses with exchange rate risk management services based on the principals of “actual needs” for holding foreign currencies and balanced “neutral risk” to prevent sharp currency…Read More