With the US Federal Reserve continuing to tighten its monetary policy sharply, the world's major currencies, including the Chinese yuan, are experiencing downward pressure, but excessive concern over the renminbi's depreciation is unwarranted, given China's strong economic fundamentals and its $3 trillion in foreign exchange reserves, experts said on Thursday.
China's A-share market reversed this week's three-day downtrend on Thursday, prompting experts to issue advisories that investors should adjust their strategy to be in line with the country's growth-stabilizing policies, and also monitor global sentiment closely.
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To ensure adequate liquidity in the Chinese banking system, the People's Bank of China, the central bank, announced on Monday it has lowered the cost of borrowing for its medium-term lending facility, a key policy rate known as MLF, for the first time since April 2020.
To ensure adequate liquidity in the Chinese banking system, the People's Bank of China, the central bank, announced on Monday it has lowered the cost of borrowing for its medium-term lending facility, a key policy rate known as MLF, for the first time since April 2020.