Govt won’t play dominant role in yuan offshore market – China SAFE’s Pan

Pan Gongsheng, Head of China's State Administration Of Foreign Exchange (SAFE) - PBOC’s foreign exchange regulatory agency, commented on the offshore yuan markets today, as reported by the Securities Times.

Key Quotes:

The Chinese government will not play a dominant role in the offshore yuan market

The development of the offshore yuan market will mainly rely on market forces

PBOC will create an accommodative environment for that market