Express News | Pan Gongsheng: China has no need and no intention of gaining trade competitive advantages through exchange rate depreciation.

On March 6, at the economic-themed press conference of the fourth session of the 14th National People's Congress, Pan Gongsheng, Governor of the People's Bank of China, stated that since the beginning of this year, the Renminbi (RMB) has appreciated against the US dollar. This is related to China’s continuously improving economy, the weakening of the US Dollar Index, and seasonal corporate foreign exchange settlement. Currently, the bilateral exchange rate of the RMB against the US dollar is within the median range of recent years. China has no need and no intention of gaining trade competitive advantages through exchange rate depreciation. (Securities Times)

BreakingsMar 6 15:45

China's Manufacturing Activity Further Slows in February; Services Sector Remains in Contraction

China's purchasing managers' index or PMI remains in contraction in February as it fell to 49.0 from 49.3 in the prior month, according to Wednesday data from the National Bureau of Statistics.The

MT NewswiresMar 4 23:24

China's Headline Deficit Target May Remain Unchanged This Year -- Market Talk

0408 GMT - China's headline deficit target is likely to remain unchanged at 4% of GDP this year, Capital Economics economist Leah Fahy says in a note. Although government officials say the fiscal

WSJMar 4 14:58

Bullish bets double, with potential for another 5% rise this year? The renminbi charts an independent course—what’s next?

Citi, Standard Chartered, and other foreign banks have observed a surge in bullish bets on the renminbi in the options market, with traders widely setting the year-end target at 6.50. Institutions such as Xingzheng and GF Macro have pointed out that the core driver is the release of substantial foreign exchange settlement demand (nearly US$200 billion in net settlements over the past two months) combined with fundamental resonance. GF Macro expects further appreciation within the year but with increased two-way volatility, stabilizing at around 6.85-6.87 by year-end. Regulatory authorities have initiated counter-cyclical adjustments to prevent excessive fluctuations.

wallstreetcnFeb 27 15:55

20%→0! The central bank adjusts this foreign exchange policy after a 3-year interval.

The central bank announced the reduction of the foreign exchange risk reserve ratio for forward sales business to 0.

Securities TimesFeb 27 09:56

Express News | Central Bank: The foreign exchange risk reserve requirement for forward sales of foreign exchange will be reduced to 0.

The People’s Bank of China announced that, in order to promote the development of the foreign exchange market and help enterprises manage exchange rate risks effectively, the bank has decided to lower the foreign exchange risk reserve requirement for forward sales of foreign exchange from 20% to 0, effective March 2, 2026. Moving forward, the People’s Bank of China will continue to guide financial institutions in optimizing their exchange rate hedging services for enterprises, while maintaining basic stability of the RMB exchange rate at a reasonable and balanced level.

BreakingsFeb 27 08:32