China's Double Down Friday Increases Yuan Depreciation Pressure

However, in Liu Dongliang's opinon, must also be acknowledged that the role of monetary policy to stimulate the real economy are declining, macroeconomic performance continued to be lower than expected, so the future fiscal policy is bound to play a greater role, PPP, government guidance funds, spontaneous self also local debt, a special financial bonds is expected to accelerate the landing.

Anyway, the "double drop will make the market sentiment look for continued devaluation of RMB, the future yuan devaluation pressure is still as large as before, expected short-term maintenance of stability the central bank may still be active, probably of large two-way exchange rate fluctuations, but medium to long term, ending devaluation pressure will rely on a substantial improvement in the macro economy. "said Liu Dongliang.

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