China Press: China should allow larger moves in the yuan

Ba Shusong, China Banking Association's chief economist, and PBOC staffer Ju Shan wrote in a report in the Shanghai Securities News, as cited by MNI, that China should allow larger moves in the yuan against the backdrop of depreciation pressure.

This will provide some flexibility in dealing with fluctuations in the offshore yuan market and promote the internalization of yuan, the report said.

Further adding that China should keep the spread between onshore and offshore yuan markets stable, and enhance management of expectations.