The People’s Bank of China deputy governor Yi Gang has pledged that China wants to transit towards a so-called “clean float” – a pure exchange rate determined only by supply and demand. Photo: Reuters The People’s Bank of China deputy governor Yi Gang has pledged that China wants to transit towards a so-called “clean float” – a pure exchange rate determined only by supply and demand. Photo: Reuters
The People’s Bank of China deputy governor Yi Gang has pledged that China wants to transit towards a so-called “clean float” – a pure exchange rate determined only by supply and demand. Photo: Reuters
Xie Yu
Opinion

Opinion

Across The Border by Xie Yu

Why the PBOC has changed the way it computes the yuan’s daily midpoint

Analysts present the arguments, but could this be a first step made towards a ‘clean float’ of the national currency?

The People’s Bank of China deputy governor Yi Gang has pledged that China wants to transit towards a so-called “clean float” – a pure exchange rate determined only by supply and demand. Photo: Reuters The People’s Bank of China deputy governor Yi Gang has pledged that China wants to transit towards a so-called “clean float” – a pure exchange rate determined only by supply and demand. Photo: Reuters
The People’s Bank of China deputy governor Yi Gang has pledged that China wants to transit towards a so-called “clean float” – a pure exchange rate determined only by supply and demand. Photo: Reuters
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Xie Yu

Xie Yu

Xie Yu worked at the Post from 2015 until 2019. She was the chief China finance reporter, covering the economy and development of financial markets.