China may widen band for yuan trading despite challenges

04/18/2013 | Caijing Magazine online

China widened the trading band for the yuan last year and is likely to do so again "in the near future," said Yi Gang, deputy governor of the People's Bank of China. "The exchange rate is going to be more market-oriented," Yi said at an International Monetary Fund conference in Washington. The observation came despite signs that China's economy is slowing and indicated Beijing's priority.

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