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.
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