China's SAFE Vows to Maintain Yuan Stability, Market Resilience and Conduct Counter-Cyclical Adjustments

China's foreign exchange regulator has reiterated its commitment to maintaining stability in the foreign exchange market amid global economic uncertainties. The State Administration of Foreign Exchange (SAFE) emphasized its confidence and capability to ensure steady market operations and to uphold the yuan's exchange rate at a reasonable and balanced level. The regulator highlighted the resilience of the foreign exchange market and its improved capacity to counter volatility. It also pledged to forcefully defend against external shocks and risks that could impact the currency and the broader financial system. Additionally, SAFE announced plans to conduct timely counter-cyclical adjustments to support economic stability and mitigate potential disruptions. These measures reflect China's proactive macroeconomic policy stance aimed at sustaining a stable balance of payments and a resilient foreign exchange environment.