China's Yuan Stability: A Pillar of Global Financial Equilibrium

China's central bank governor emphasized a stable yuan's importance for global economic stability and affirmed that the market would largely dictate exchange rates. Addressing an economic conference in Saudi Arabia, he noted that despite various currencies depreciating against the dollar, the yuan's value has remained unchanged.

China's central bank governor highlighted on Sunday the critical role of a stable yuan in ensuring global financial balance. He stressed that Beijing will continue allowing market forces to predominantly determine exchange rate outcomes.

Speaking at an emerging markets conference in Saudi Arabia, Pan Gongsheng, the governor of the People's Bank of China, underscored that amidst widespread depreciation of currencies against the US dollar, the yuan has successfully maintained its stability.

This stance reflects China's commitment to participating in global economic frameworks, ensuring the yuan's performance remains a cornerstone in international finance.

(With inputs from agencies.)