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Former U.S. Treasury official says more communication from China’s central bank has eased investors’ worries about a weaker yuan

T
he People's Bank of China has "stressed that there is no intention among Chinese policymakers to engineer a sharp depreciation of the currency," says Charles Collyns, chief economist at the Institute of International Finance. "They understand that any sharp move in the RMB can be disruptive to the global financial environment and have negative spillback on the Chinese economy."
9 months ago
Sky Canaves
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.
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