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China’s SAFE: Forex market stable in Q1, cross border flows more balanced
Pan Gongsheng, head of China’s State Administration of Foreign Exchange (SAFE), said on Friday, “China’s forex market stable in Q1, cross border flows more balanced.”
Additional quotes
“Will deepen forex reform, steadily pushing forward with high level opening up of capital account.”
“Will fend off risks from external market shocks.”
“Will maintain prudent operations of forex market and financial safety.”
“Market expectations remain stable and trading is reasonable.”
“Foreign investors increase holdings of onshore bonds in March.”
Market reaction
At the time of writing, AUD/USD is losing 0.22% on the day to trade at 0.6724, holding lower ground amid risk-aversion.
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