PBOC Governor, Yi Gang: Withdrawn from day-to-day interventions

Speaking at the China Development Forum in Beijing on Sunday, Bloomberg has reported that the PBOC "has already withdrawn from day-to-day interventions and now more and more market participants are getting used to a flexible exchange rate"

Additional quotes:

• China's financial markets openness to the rest of the world isn't high
• Therefore there is a lot of room for increased access
• PBOC will focus on providing more hedging tools in 2019 to help investors manage risks
• "We need to improve the financial risk prevention mechanism in line with financial opening-up."
• a flexible currency exchange rate is a "complementary" step in China's opening as it helps absorb risks
• PBOC "has already withdrawn from day-to-day interventions and now more and more market participants are getting used to a flexible exchange rate"