In Conversation with GROW – Outlook for China’s Economy
Beyond Markets
00:00
PBOC's Intervention in the Market
The Chinese race have been quite clearly falling over the past month. The two-year government bond is yielding only 2.1%, the 10-year at 2.7%. The direct implication of this, obviously, is RMB depreciation. But I don't think that PBOC is intervening in the market. And then at the same time, if we have a weakened currency, it actually increased the competitiveness of Chinese exports.
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