Chinese Stock Market Is Undervalued, China’s State Administration of Foreign Exchange Says 

The Chinese stock market is undervalued and presents good investment prospects in terms of various indicators, such as Price-Earnings Ratio and Price-to-Book Ratio, said Wang Chunying, deputy administrator and spokesperson of China’s State Administration of Foreign Exchange. And the potential risks are relatively low, she added.

Regarding the cross-border use of RMB, Liu Xingya, deputy director of the Shanghai Headquarters of the People's Bank of China, said at a press conference today that it will make greater efforts to guide financial institutions to provide suitable cross-border financial services for enterprises and promote the innovation of RMB cross-border investment and financing business, meet the cross-border investment and financing needs of enterprises, promote key sectors such as iron ore, oil and natural gas to be settled in RMB, and promote cross-border RMB settlement in key regions such as the “Belt and Road Initiative” countries and ASEAN, as well as key enterprises such as central state-owned enterprises and municipal state-owned enterprises, so as to better serve the country’s key strategies.