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China PBOC says committed to yuan liberalization, refutes unnamed report

Published 05/27/2016, 04:46 AM
Updated 05/27/2016, 04:49 AM
© Reuters.  PBOC  denies any plans to scale back yuan liberalization

Investing.com - The People's Bank of China said Friday it will continue with market-oriented yuan exchange rate reform and boost two-way yuan exchange rate flexibility.

The PBOC, in a statement posted out on its micro-blog account, said it issued the statement in response to recent media reports about yuan reform that suggested China has scaled back on plans to liberalize the exchange rate regime further.

The PBOC did not identify the source of the report, but said it reserved the right to pursue the matter through legal channels.

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