I'd like to tell everyone, the next change in the (yuan exchange rate level) is happening everyday. Every hour it is going on. |
If we sell large quantities of U.S. treasuries, it would cause the price to plunge. We're not going to do that. |
So there is no need to rely on administrative adjustment any more. |
The more active the market is, the easier it is for us to manage the economy. |
The next adjustment will come in the foreign exchange market. |
The yuan is no longer pegged to the US dollar and will not see further official adjustment. |