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People’s Bank of China Vows to Maintain Yuan Stability

China’s central bank aims to keep the yuan stable while ensuring market forces guide its valuation.

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Terms & Concepts
  • Market-Driven Formation Mechanism: A system where the value of a currency is determined by supply and demand in the foreign exchange market, rather than fixed by the government.
  • Yuan: The official currency of the People’s Republic of China, also known as the Renminbi (RMB).