China’s banking and insurance regulator said on Saturday it they yuan's weakening will not persist and warned speculative short sellers they would suffer “heavy losses” if they bet against the currency.
“Short-term fluctuation of the yuan exchange rate is normal, but in the long-run, China’s economic fundamentals determine that the yuan will not depreciate persistently,” said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC), said in statement on Saturday.
“Those who . . .
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