Market forces, policymakers soften yuan appreciation

The Chinese yuan is expected to log another year of mild strengthening in 2013, the official People’s Daily newspaper reported, as market forces cooperate with policymakers to hold back aggressive appreciation.

The report, which quoted economists from domestic and foreign banks, is in line with previous official declarations that the currency has reached a market-driven equilibrium. It also accords with repeated commitments by Beijing to preserve the “fundamental stability” of the exchange rate.

via Business feed http://www.scmp.com/business/banking-finance/article/1119754/market-forces-policymakers-soften-yuan-appreciation