China’s central bank pledged to keep the country’s stock, bond and foreign-exchange markets stable, and said it will further promote the internationalization of the yuan to expand its use in cross-border payments.
The People’s Bank of China also reiterated its intention to “deepen reform” of the yuan exchange rate mechanism, while keeping the currency stable at a “reasonable and equilibrium” level, according to a statement released Friday night. It said it would advance the development of the offshore yuan market, and enhance Shanghai and Hong Kong’s standing as international financial centers.