“This move doesn't mean [there will be a] fundamental change of [the] yuan exchange rate formation mechanism. In response to some problems experienced by banks in their quoting rates to clients, some adjustments [were] made to expand the buying-selling rates spread, which is now basically consistent with other countries' practice in the range of quotation rates.”
“Financial institutions and export and import enterprises have basically adapted to the flexibility of the exchange rate regime and show strong confidence in their future business.”
“We will further improve the yuan exchange rate formation mechanism and constantly make the exchange rate more responsive to market supply and demand.”
