'Get economy stabilised first'
CHINA will not see "excessive" depreciation in its yuan currency as long as the government is able to stabilise economic growth, a central bank policy adviser said yesterday.
"There will be no excessive (yuan) depreciation. The most important thing is to stabilise the economy," Huang Yiping, a member of the central bank's monetary policy committee, told the World Economic Forum in Dalian, north-eastern China.
The government is still struggling to stabilise the yuan after its surprise devaluation of the currency on Aug 11, which is done to halt a stock market rout that has seen the country's share indexes plunge 40 per cent since mid-June.