Xi: Give markets bigger role in RMB exchange rate

Noah Sin

October 18, 2017 10:45 am

renminbi counting 230px — FILE - In this Aug. 26, 2015 file photo, a bank clerk counts renminbi banknotes in a bank branch in Huaibei in central China's Anhui province. A series of bungled decisions have escalated doubts about Beijings economic stewardship. (Chinatopix via AP, Vile) CHINA OUT | Uncredited/AP/Press Association Images

China will allow the markets to have a greater influence on the renminbi’s exchange rate, Xi Jinping, president of China, said in the opening speech of the 19th Communist Party Congress on Wednesday.

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Noah Sin