The Chinese Xinhua News Agency quoted Li Hongyan, Vice President of the National Foreign Exchange Authority, as saying that cross-border capital flows have been heading towards balance since the beginning of the year.
He added that the foreign exchange market shows strong flexibility, with market expectations and transactions continuing to remain within a reasonable and orderly framework, while the renminbi exchange rate stabilizes at a reasonable and balanced level.
Official data released on Friday showed that the economy… China It grew by 4.6 percent in the third quarter on an annual basis, which is less than the government’s target of 5 percent, but slightly above analysts’ estimates, keeping pressure on policymakers who are considering further stimulus measures.
Economists polled by Reuters expected GDP growth in the third quarter to be 4.5 percent compared to last year, slowing from 4.7 percent in the previous three months.
Since late September, the authorities have been working to significantly strengthen stimulus policies to revive the faltering economy and ensure growth reaches this year’s target of five percent.
