China’s central bank has moved to slow the renminbi’s advance as its rapid appreciation tests Beijing’s tolerance for a stronger currency that could threaten its export-oriented economy.
The People’s Bank of China on Friday said it would scrap a reserve requirement of 20 per cent for forward contracts selling the renminbi. This makes it cheaper for traders to bet on a weakening Chinese currency.
Beijing tightly manages the renminbi and in recent years has favoured a weaker currency to boost exports. It has faced calls from inside and outside the country in recent months to let the currency strengthen after racking up a record $1.2tn trade surplus in 2025.
您已阅读18%（661字），剩余82%（3008字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。