The State Administration of Foreign Exchange (SAFE) in the regulator:
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Will strengthen countercyclical supervision, improve the solvency,
deposit reserve mechanisms - Studying broadening
the scope of foreign shareholders in non-bank institutions - China’s forex market
operation is resilient - China’s forex market
faces increasing adjustment - China’s forex market
has condition for steady operation in future - China’s forex market
remains reasonable and orderly - Will pay high
attention to changes in external environment - Will prevent yuan
exchange rate from overshooting, and prevent risks from abnormal
cross-border capital flow
This is the offshore yuan, CNH, which trades without the +/- 2% restriction China imposes on the onshore yuan, CNY. The two never get too far out of line (depends how you define too far out of line course):
