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China will safeguard yuan and financial stability, central bank governor says

Published 04/04/2023, 06:23 AM
Updated 04/04/2023, 06:31 AM
© Reuters. People's Bank of China (PBOC) Governor Yi Gang attends a news conference in Beijing, China March 3, 2023. REUTERS/Florence Lo

BEIJING (Reuters) - China will safeguard the yuan and financial stability, central bank governor Yi Gang told a financial forum on Tuesday.

Yi's remarks in the wake of the global banking crisis were quoted in a statement posted on the People's Bank of China website.

China had taken a series of measures to curb financial risks and to guard against systemic financial risks, Yi said.

© Reuters. People's Bank of China (PBOC) Governor Yi Gang attends a news conference in Beijing, China March 3, 2023. REUTERS/Florence Lo

"If financial risks emerge, they will harm the interests of the general public and may even cause social problems," Yi said.

Yi said that the country's foreign exchange conversion quota of $50,000 per person per year was able to meet most people's demands for school expenses, travel and trade.

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