October 26, 2017 / 12:21 PM / a year ago

China says again it will keep yuan exchange rate basically stable

FILE PHOTO: A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo

BEIJING (Reuters) - China’s foreign exchange regulator reiterated on Thursday that it will keep the yuan exchange rate basically stable and will deepen market-based exchange rate reform.

The State Administration of Foreign Exchange said in a statement on its website that it will also promote capital account convertibility in an orderly way and strengthen the operation and management ability for foreign exchange reserves.

Reporting by Judy Hua, Lusha Zhang and Ben Blanchard; Editing by Nick Macfie

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