China's SAFE Vows to Guard Yuan Against Volatility

China's foreign exchange regulator has pledged to closely monitor external environmental changes to prevent excessive fluctuations in the yuan's exchange rate and mitigate risks from abnormal cross-border capital flows. Zhu Hexin, head of SAFE, stated the resilience of China's forex market during the Lujiazui Forum in Shanghai.

China's foreign exchange regulator said on Wednesday it will closely monitor changes in external environment to prevent the yuan exchange rate from overshooting, and guard against risks from abnormal cross-border capital flows.

Zhu Hexin, head of the State Administration of Foreign Exchange (SAFE), told the annual Lujiazui Forum in Shanghai that China's forex market is resilient.