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Editor's note: This article was published in Global Times. The author is the global chief economist at BOC International (China). China boasts capabilities to keep yuan basically stable at adaptive and balanced level At the beginning of 2025, the exchange rates of the yuan have undergone notable fluctuations, drawing significant attention. However, we should approach recent yuan fluctuations with an objective and balanced perspective. In their recent 2025 work conferences, the People's Bank of China (PBC) and the State Administration of Foreign Exchange (SAFE) conveyed positive and clear signals to keep the exchange rate of the yuan basically stable at an adaptive and balanced level, and forestall exchange rate overshooting risks. China possesses the fundamentals, resources, and expertise to achieve this objective. The 2025 work conference of China's central bank also noted leveraging a mix of monetary policy tools to reduce the reserve requirement ratio and interest rates
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