June 14, 2018 / 2:53 AM / a year ago

China's CSRC says foreign holding of yuan assets explains currency strength

Fang Xinghai, vice chairman of China Securities Regulatory Commission (CSRC), speaks at the Lujiazui financial forum in Shanghai, China June 14, 2018. REUTERS/Stringer

SHANGHAI (Reuters) - Overseas investors have a tendency to hold yuan-denominated assets, which helps explain the Chinese currency’s strength against a backdrop of weakness in some other currencies, Fang Xinghai, vice chairman of the securities regulator, said on Thursday.

Fang also said the China Securities Regulatory Commission (CSRC) was working toward a mechanism to help increase the inclusion factor for Chinese shares in MSCI indexes to 15 percent from 5 percent as soon as possible.

Fang, speaking at a financial forum in Shanghai, did not give further details.

Reporting by Samuel Shen and Andrew Galbraith; Writing by John Ruwitch; Editing by Kim Coghill

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