SKY SURFERS Inflight WiFi now seen as vital service p16 IN THE MAJOR TARGET Pharma firms eye US acquisition p17 PIPELINE CNPC vows to wrap up key reforms by November BUSINESS p17 CHINA DAILY » CHINADAILY.COM.CN/BUSINESS Tuesday, August 15, 2017 Yuan rate ‘has more room for maneuver’ the central bank added a new Expert: Controlled countercyclical factor to the regime will be current yuan’s pricing regime in May. good option for While the weak dollar and capital outflow control meas further reform ures played key roles, intro ducing the factor helped By WANG YANFEI stabilize market expectations,
[email protected] and diminished expectations that currency was on a weak China has further room to ening trend, according to improve the current con Guan. trolled floating exchange rate “The improved pricing regime, as it moves toward the regime helped beat oneway ultimate goal to allowing the bets on the currency, guiding yuan to float freely, said a the market to pay more atten former senior official with the tion to changes in economic nation’s top forex regulator. fundamentals and fluctua Guan Tao, a former senior The improved pric tions in multilateral exchange official with the State Admin rates,” he said. Two employees of Kweichow Moutai Co package liquor at the company’s production line in Maotai town in Guizhou province. istration of Foreign Exchange, ing regime helped The recent stronger yuan PROVIDED TO CHINA DAILY said the central bank has reflected the market’s adjust made proper adjustments to beat oneway bets ment to betterthanexpected the current pricing regime by on the currency.” economic fundamentals, adding a countercyclical fac instead of central bank’s inter Holiday season gives Moutai cheer tor in May, but it is still a “tran Guan Tao, a former senior offi vention, according to Guan.