GO
Loading...

China to gradually widen yuan trading band

Getty Images

China will gradually expand the yuan trading band to help make the currency more flexible and market-driven, central bank chief Zhou Xiaochuan said in remarks seen on Tuesday.

The People's Bank of China will gradually exit from regular intervention on the foreign exchange market, Zhou said in remarks in a book on reforms published after a key meeting of the Communist Party's leadership.

Last week, China's leaders unveiled a reform agenda for the next decade, pledging to let the market play a"decisive" role in the economy and outlining sweeping changes to unleashfresh growth drivers.

(Read more: China's reforms: 5 key ones you should know)

Contact Asia News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Asia Video

  • Could UK's Q1 GDP disappoint?

    George Buckley, chief U.K. economist at Deutsche Bank, outlines his expectations for the U.K.'s first-quarter GDP reading and explains what that means for the Bank of England's monetary policy.

  • Impact of Nepal quake 'close to $5B': Expert

    In the absence of tourism income, remittances will be the "lifeline" of Nepal's economy, says Rajrishi Singhal, senior geo-economics Fellow at Gateway House.

  • How will Asia react to Japan's new foreign policy?

    ohn Lee, adjunct associate professor, School of Social and Political Sciences at University of Sydney, explains why the Asian region, excluding China, will likely welcome Japan's proactive foreign policy.