The head of the People's Bank of China's Monetary Policy Department, Zou Lan, stated that in the next stage, the People's Bank of China and the Foreign Exchange Bureau will resolutely implement the decisions and deployments of the Central Committee of the Communist Party of China and the State Council, with the goal of maintaining the basic stability of the RMB exchange rate at a reasonable and balanced level. Based on the long-term, starting from the current situation, comprehensive measures, correcting deviations, and stabilizing expectations, they will resolutely rectify unilateral and cyclical behaviors, resolutely deal with behaviors that disrupt market order, and resolutely prevent exchange rate over-adjustment risks.
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