China’s SAFE: Yuan exchange rate prominently stable despite the US dollar strength.

Commenting on the currency, China’s FX regulator, the State Administration of Foreign Exchange (SAFE) said on Friday, the “yuan exchange rate prominently stable despite the US dollar strength.”

Additional quotes

Companies' cross border financing in H1 remains stable.

Size of FX derivative trading continues rising, FX reserves largely stable.

International capital has been flowing out from emerging markets recently.

The influence and attractiveness of China’s bond market have risen significantly.

Volatility of China’s bond market far below other developed and emerging markets, shows relatively high stability.

Further opening up China’s bond market could improve resilience of FX market.

Confident overseas investors will continue to steadily increase investment in yuan denominated bonds.

Foreign firms' profit remittance is reasonable and in an orderly manner this year.

Impact from such profit remittance on cross border capital flow is under control.

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