Yuan will break 7 in 2017, but depreciation will be milder - Experts

Liu Xuezhi, a macroeconomist with the Bank of Communications, and Xi Junyang, a professor at the Department of Finance of Shanghai University of Finance and Economics, expressed their take on the Yuan price-forecasts for 2017, the Global Times reports.

According to Liu, the yuan breaking through 7 will be highly probable in the first quarter of 2017, but the depreciation level will be milder compared with this year.

Liu noted, "I don't think the U.S. government will tolerate the Yuan’s continuous depreciation, which hurts U.S. exports to China."

Xi also echoed that the yuan would break through the 7 level in 2017, but for the moment the PBOC still hopes to guard the gate. "The government wants to maintain the 6.9 level for a while to help people prepare," he added.