Ex-Chinese central bank chief expects no result from trade talks with US

Former Chinese central bank governor Dai Xianglong said on Friday he expected no major breakthrough over trade at an anticipated meeting between Chinese and U.S. leaders in Japan at the end of June.

Dai, who headed the People's Bank of China (PBOC) from 1995-2002, said the current yuan depreciation was a short-term market reaction to the U.S.-China trade war. China is able to keep its stock market above 3,000 points in the future, Dai also said at a seminar in Beijing.