New RMB fix formula signals further reforms, says HSBC

Noah Sin

May 26, 2017 10:30 am

pboc 230px. — People walk past the China's central bank or People's Bank of China in Beijing Tuesday, Aug. 11, 2015. China devalued its tightly controlled currency on Tuesday following a slump in trade, triggering the yuan's biggest one-day decline in a decade. (AP Photo/Andy Wong) | Andy Wong/AP/Press Association Images

A new formula to determine the daily renminbi fix could be a prelude to more exchange rate policy reform from China, said HSBC.

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Noah Sin